Demonetisation's problems are easing up with digital push, says Chandrababu Naidu

Tirupati: Difficulties that arose in wake of the note ban are slowly easing with the availability of new Rs 500 currency notes, said Andhra Pradesh chief minister N Chandrababu Naidu on Tuesday, just days after he said solutions to the problems arising from demonetisation remained elusive.

Naidu, who also heads the panel of chief ministers formed to give recommendations on how to promote digital payment systems, transparency, financial inclusion post note-ban, said the committee will soon give its interim report to Prime Minister Narendra Modi.

Chandrababu Naidu. Reuters

Chandrababu Naidu. Reuters

"The situation is easing slowly. People are using digital transactions. I am confident we will move forward. In Andhra Pradesh, 25 percent transactions are digital. Very soon, we will give our report to the PM. It will be an interim report. We will study further and try to incorporate best practices from all over the world," he said.

Chandrababu, who initially had supported demonetisation, later said solutions to problems arising out of the note ban were elusive. He had subsequently clarified his statement was misinterpreted. Speaking at the Indian Science Congress, Naidu, in the presence of Modi, said, demonetisation was a bold decision and it, along with GST, is one of the biggest economic reforms since Independence.

"We can simplify business, eradicate tax evasion, and put an end to the parallel economy, which helps anti-social elements," he said.

The Andhra Pradesh chief minister also said he wants to replicate another Silicon Valley success story in his state. He said the state government is establishing an innovation society in each university and college, with incubation centres to promote start-ups.

"Andhra Pradesh has been in the forefront in promoting science and technology. Our government has launched the Andhra
Pradesh Knowledge Mission as a first step in transforming our state into an education hub and knowledge state and to
strengthen its research and academic base," he said.

The sanctioning of 11 prestigious central institutions to our state by the Union Government would also go a long way in
buttressing our efforts in this regard. They will help develop core technologies with our own research and thus truly transform India into a global design and manufacturing hub," he said.

Published Date: Jan 03, 2017 22:05 PM | Updated Date: Jan 03, 2017 22:05 PM

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