CM on demonetisation: State prepared for cashless transactions

Stating that there was no scope for blindly supporting or opposing the Centre’s demonetization policy, Telangana Chief Minister K Chandrasekhar Rao on Saturday informed that sooner the people wake up, better the results it would fetch in dealing with the scenario arising post demonetization.

Speaking on the demonetization issue in the State Legislative Council on Saturday, Chandrasekhar Rao said that the decision on demonetization policy was taken by the Centre and the State had nothing to do with it. He said that in the wake of severe cash crunch due to Centre’s move, the people should make alternatives to deal with the situation. He admitted that the note ban had drastic affect on the state’s revenue. He said that the State Government would encourage cashless transactions to ensure that the State’s revenues does not go further down. He said that the sooner the people adopt to the cashless transaction the better results it would bring. He said that the state government would soon come up with mobile app TS Wallet to carry out digital transactions in the state.

A task force has been constituted in this regard under the chairmanship of IAS officer Suresh Chanda to look into encouraging the cashless transactions, the Chief Minister said and added that the state government would take up state-wide drive to encourage cashless transactions and appealed people from all professions to do their bit in promoting cashless transactions.