Naidu urges Modi to scrap ₹500 and ₹2,000 notes
Naidu renewed his proposal to reduce high-value cash usage, presenting digital currency and technology-driven governance as key measures to tackle corruption and promote economic growth.
AMARAVATI Andhra Pradesh Chief Minister N Chandrababu Naidu on Monday called for scrapping high-denomination currency notes of ₹500 and ₹2,000, arguing that limiting high-value cash transactions could help curb corruption, encourage wealth creation and reduce poverty. Speaking at a press conference, Naidu strongly advocated digital currency and technology-driven governance. He said he had previously submitted recommendations for a digital currency report and had repeatedly urged Prime Minister Narendra Modi to consider the proposal. “I am demanding it again now. Currency denominations of ₹500, ₹1,000 and ₹2,000 should be scrapped. Only ₹100 and ₹200 notes should remain,” he said. His remarks came a day after the 10th anniversary of demonetisation, announced on November 8, 2016, when the Centre withdrew ₹500 and ₹1,000 notes from circulation to tackle black money, counterfeit currency and corruption. Naidu said flaws in existing systems had created a cycle of corruption that required technological intervention. He argued that effective implementation of technology could make wealth generation easier and help eradicate poverty. The Telugu Desam Party chief also called for reducing money power in electoral politics. He said elections should focus on public service rather than financial influence and claimed that the NDA had taken steps to curb cash distribution during campaigns. Naidu added that candidates who spend heavily to win elections often attempt to recover their expenses after entering office. Reducing election expenditure, he argued, could discourage such practices and encourage elected representatives to prioritise public welfare.
