Odisha CM hails PM's bold move on curbing black money

Naveen Patnaik welcomed the bold decision of Prime Minister Narendra Modi to stamp out Rs 500 and Rs 1,000 currency notes.

Published: 09th November 2016 08:48 PM  |   Last Updated: 09th November 2016 08:48 PM   |  A+A-


Chief Minister of Odisha Naveen Patnaik

By Express News Service

BHUBANESWAR: Chief Minister Naveen Patnaik on Wednesday welcomed the bold decision of Prime Minister Narendra Modi to stamp out Rs 500 and Rs 1,000 currency notes.

"I welcome this move of the Union Government. Demonetisation of higher denomination currency notes in circulation to check black money has been a public suggestion to the Central Board of Direct Taxes (CBDT) panel since long. I am happy that the Union Government has shown the political will to implement it," the Chief Minister said.

Describing the move as a bold step by the Prime Minister, Patnaik said  there have been policy changes across the globe to demonetise higher value currency notes to check terror funding.

"Welcome demonetisation, bold step by @PMOIndia to curb black money, fake currency & terror funding. My Government is committed to supporting all measures aimed at transparency in governance. With over 80% cash circulation withdrawn, expect Union Government to ensure a smooth transition so that people do not suffer hardship," the Chief Minister tweeted.

As more than 80 per cent cash in circulation is withdrawn, the Chief Minister said the Union Government should make all efforts for a smooth transition so that common people, small traders, daily
wage-earners and those living in interior areas and not having access to banks do not suffer any hardship.

"I am particularly concerned about timely payment in MGNREGS and other pro-poor schemes where payments are made through banks. Three days' time for allowing old currency in hospitals is too short for critical and costly treatment," the Chief Minister added.

He said the Union Government should reform the institutional and legal framework, seek better tax compliance, and set up transparent trade regimes so that the big fish do not escape.

The Chief Minister said his government is committed to supporting all measures leading to transparency in governance.

Earlier, two senior BJD leaders and a member of Lok Sabha Bhatruhari Mahatab and Bijayant Panda had praised the Prime Minister for this bold step to weed out black money.

State BJP President Basanta Panda said this is a 'surgical strike' on black money.

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