Odisha CM Welcomes Demonetisation Of Rs 500, Rs 1000

Bhubaneswar: Odisha Chief Minister Naveen Patnaik on Wednesday welcomed the Union government’s step of demonetising Rs 500 and Rs 1000 currency notes.

“This is a bold step by the Prime Minister. Across the globe, there have been policy changes to demonetise higher value currency notes to check terror funding,” said the Chief Minister.

He said demonetization of higher denomination currency notes in circulation to check black money has been a public suggestion to the CBDT panel since long.

“I am happy that the Union Government has shown the political will to implement it,” he added.

“My Government is committed to support all measures leading to transparency in Governance,” said the Chief Minister.

He said as more than 80 percent cash in circulation is withdrawn, the Union Government should take all efforts for a smooth transition so that common people, small traders, daily wage earners and those living in interior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,” said Patnaik.

Besides this measure, the Union Government should reform the institutional and legal frame work, seek better tax compliance, set up transparent trade regimes etc., so that the (big fish) do not manage to escape, he added.