Reduce common man’s hardships due to demonetization: Kodandaram

Telangana JAC chairman Prof. M. Kodandaram on Wednesday said that the Centre’s decision to demonetize Rs 500 and Rs 1000 currency notes has hit the common man hard and demanded the government to take measures to ensure that the common man does not suffer due to the government’s move.

Speaking to media persons here, Prof. Kodandaram said that the black money was a menace to the country’s economy and added that the Centre’s move of demonetization was good but the government should take enough steps to ensure that the poor and the middle class are not subjected to hardships. He said that black money had a big share in the national output and it is necessary to curb it to save the country’s economy. He said that demonetization also took place in 1978 but it had little impact on the common people. Since the Rs. 500 and 1000 notes constituted 86 per cent of the economy, demonetizing the same has hit the poor hard. To ensure that the poor are not hit by the move, the new currency notes should be made available in enough volume to the general public, the TJAC chief said.