Scrap Rs 500, Rs 2,000 notes to fight corruption: Andhra CM Chandrababu Naidu

Andhra Pradesh Chief Minister N Chandrababu Naidu on Monday called for scrapping high-denomination currency notes of Rs 500 and Rs 2,000, arguing that eliminating high-value cash transactions could help break the cycle of corruption and make wealth creation and poverty eradication easier.Making a strong pitch for digital currency and technology-driven governance, Naidu said he had submitted inputs for a report on the subject in the past and had repeatedly raised the issue with Prime Minister Narendra Modi."I was the one who gave inputs for the digital currency report. I had urged the Prime Minister to consider this earlier and I am demanding it again now. I will keep raising this issue. Currency denominations of Rs 500, Rs 1,000 and Rs 2,000 should be scrapped. Only Rs 100 and Rs 200 notes should remain," he said.His comments came a day after the 10th anniversary of the demonetisation move, in which the Centre, on November 8, 2016, withdrew Rs 500 and Rs 1,000 currency notes from circulation, announcing the decision as a measure to curb black money, counterfeit currency and corruption. The Telugu Desam Party (TDP) chief further said he would continue to press for the proposal, arguing that technology, if implemented effectively, could help address deep-rooted economic and governance challenges."If technology is implemented perfectly, wealth creation is not difficult and eradicating poverty is not difficult either," he said. According to Naidu, flaws in systems at various levels had allowed corruption to become a vicious circle. He said he had attempted to introduce measures to address these systemic shortcomings and break the cycle."Since systems everywhere have become flawed, leading to a vicious circle of corruption, I tried to put a check on that," he said.Naidu also called for a fundamental change in electoral politics, arguing that elections should be driven by public service rather than money power. He said the NDA had initiated a new political culture by attempting to curb the distribution of cash during elections, adding that reducing election expenditure would make elected representatives more accountable to the people."We, the NDA, have initiated a new trend in politics. Politics should not be about money; it should be done with a spirit of service," he said.He said distributing money during elections was unacceptable and claimed that the NDA had succeeded to a large extent in curbing the practice. He described the reduction in election-related expenditure as a welcome development, arguing that it would help transform the mindset of political leaders.According to Naidu, candidates who spend large sums of money to win elections often develop a tendency to recover that expenditure after assuming office. He said reducing election spending would help eliminate such thinking and encourage leaders to focus on public service."The spirit of service among leaders will increase. The thought of 'I spent money, so I must also collect it back this way' will go away," he said.He also recalled making several attempts to address the issue over the past 24 years, saying he had consistently explored ways to change electoral practices.Reiterating his support for digital currency, Naidu said technology-driven systems could help tackle corruption and create conditions for economic growth and poverty eradication.- Ends