Andhra Pradesh Chief Minister N Chandrababu Naidu has made a fresh appeal to the central government to scrap ₹500 and ₹2,000 currency notes, identifying it as a critical step in the fight against corruption. The Telugu Desam Party (TDP) chief articulated his views on Monday, a day after the tenth anniversary of the 2016 demonetisation.
Naidu highlighted the pervasive nature of corruption, attributing it to systemic flaws. He argued that effective implementation of technology could not only address these issues but also pave the way for accelerated wealth creation and poverty eradication.
Push for Digital Currency and Technological Governance
The Chief Minister is a strong advocate for digital currency and technology-driven governance. He revealed that he had previously provided input for a report on digital currency and has consistently raised the issue with Prime Minister Narendra Modi. "I had urged the Prime Minister to consider this earlier and I am demanding it again now. I will keep raising this issue," Naidu stated, emphasizing his long-standing commitment to the proposal.
According to Naidu, reducing the denominations of physical currency in circulation, specifically by removing ₹500 and ₹2,000 notes, would significantly impede illicit financial activities and encourage a more transparent, digital economy. He suggested that only ₹100 and ₹200 notes should remain as higher denominations.
Reforming Electoral Politics
Beyond currency reform, Naidu also called for fundamental changes in the electoral system. He stressed that elections should be driven by a spirit of public service rather than the influence of money. He asserted that the National Democratic Alliance (NDA), of which TDP is a part, has initiated efforts to curb the distribution of cash during elections, claiming a substantial reduction in such practices.
"Politics should not be about money; it should be done with a spirit of service," Naidu remarked.
Naidu argued that lower election expenditure would foster greater accountability among elected representatives. He believes that candidates who spend vast sums to win office often feel compelled to recover those funds post-election. Reducing this expenditure, he contended, would eliminate such motivations and encourage leaders to prioritize public service. He recounted his efforts over the past 24 years to push for these changes in electoral practices and technology-driven systems, vowing to continue his advocacy.