Bhubaneswar: Chief minister Naveen Patnaik has welcomed Prime Minister Narendra Modi's announcement of demonetisation of Rs. 1,000 and Rs. 500 notes.
Talking to newsmen, Patnaik said, “I welcome this move of Union government. Demonetisation 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 Central government has shown the political will to implement it.”
“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. As more than 80 per cent cash in circulation is withdrawn, the Union government should take all efforts for a smooth transition so that common people, small traders, daily wage earners and those living in interior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,” Patnaik added.
“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 hospital is too short for critical and costly treatment,” Patnaik pointed out.
Also read: What to do with Rs 500, Rs 1000 notes
“Besides this meassre, the Union government should reform the institutional and legal framework, seek better tax compliance, set up transparent trade regines etc., so that the (big fish) do not manage to escape,” Patnaik stated.
“My government is committed to support all measures leading to transparency in governance,” Patnaik mentioned.