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Politics become a shelter for corrupts: Chandrababu

Chandrababu Naidu has demanded abolition of Rs 1,000 and Rs 500 notes to curb black money

Policy Pulse
Publish Date: Oct 13 2016 12:33PM | Updated Date: Oct 13 2016 12:33PM

Politics become a shelter for corrupts: Chandrababu

Andhra Pradesh chief minister Chandrababu Naidu claimed that out of the Rs 13,000 crore of black money declared in Hyderabad, Rs 10,000 crore belonged to a single individual. 


He also demanded immediate abolition of currency notes of Rs 1,000 and Rs 500. Naidu said it is a necessary step to curb the black money.


Noting that politics has become a "shelter" for corrupt people and black money earners, he said, "Some people who are in politics are misusing the people's mandate.”


“I am writing a letter to the Prime Minister today asking that Rs 1,000 and Rs 500 notes be abolished and total bank transactions be encouraged," the CM said.


The chief minister said once these currency notes are abolished, it would also put an end to "buying of votes".


"Out of the Rs 65,000 crore disclosed across the country, Rs 13,000 crore was declared in Hyderabad and, out of it, Rs 10,000 crore by a single individual,” he said.


“Who is that, we can't know as per law. But is it possible for a businessman to declare such huge money," he said to media.


"In the future they will again regularize black money, depending on their need. You just pay 40-45 per cent penalty and the rest becomes white. Isn't that better? Nobody can question. No social stigma as well," Chandrababu said.