Odisha Sun Times Bureau
Bhubaneswar, Nov 9:

Odisha Chief Minister Naveen Patnaik today welcomed the Union Government’s step of demonitising Rs 500 and Rs 1000 currency notes.

Patnaik took to Twitter and termed the decision as a ‘bold step’ by Prime Minister Narendra Modi to curb black money, fake currency & terror funding.

“My Government is committed to support all measures aimed at transparency in governance,” Patnaik tweeted.

“With over 80% cash circulation withdrawn, expect Union Government to ensure smooth transition so that people do not suffer hardship,” he added.

Patnaik said demonetisation of higher denomination currency notes in circulation to check black money has been a public suggestion to the Central Board of Direct Taxes (CBDT) panel since long. “I am happy that the Union Government has shown the political will to implement it,” he added.

“I am particularly concerned about timely payment in MGNREGS and other pro-poor schemes where payments are made through banks. Three days’ time for allowing old currency in hospitals is too short for critical and costly treatment,” the Chief Minister said.

He said the Union Government should reform the institutional and legal framework, seek better tax compliance, and set up transparent trade regimes so that the big fish do not escape.

Also read: Denotified Rs 500/Rs 1,000 currency: What you can do.