Telangana has to suffer Rs 3,000 cr loss due to demonetisation

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Telangana has to suffer Rs 3,000 cr loss due to demonetisation

Nov 23, 2016: Telangana has to suffer Rs 3,000 cr loss due to demonetisation. Telangana’s revenues are more likely to come down by nearly Rs 3,000 crore throughout the present financial yr because of demonetisation of excessive worth currency notes.

Telangana has to suffer Rs 3,000 cr loss due to demonetisation.

telangana-has-to-suffer-rs-3000-cr-loss-due-to-demonetisationThe federal government on Wednesday instructed a central group visiting the state to review the influence of demonetisation that the state might endure a income loss of Rs 540 crore each month.

Chief Secretary Rajiv Sharma and a few prime officers met the central crew and submitted an in depth report on the affect of the scrapping of Rs 1,000 and Rs 500 notes as Telangana has to suffer Rs 3,000 cr loss due to demonetisation.

He stated the Centre ought to supply particular help moreover releasing Central Sales Tax (CST) arrears to assist the state tide over the crisis.

The federal government briefed the central officers of the difficulties confronted by the individuals. The Chief Secretary stated the brand new word of Rs 2,000 was of little assist resulting from extreme scarcity of small forex notes when Telangana has to suffer Rs 3,000 cr loss due to demonetisation.

He needed the central crew to make sure that state was instantly provided Rs 500 notes. The Reserve Bank of India (RBI) representatives on the assembly stated the identical can be finished in a few days.

The Chief Secretary mentioned the state wanted cash urgently to pay at the very least Rs 10,000 in money to each authorities worker in the direction of their November salaries as Telangana has to suffer Rs 3,000 cr loss due to demonetisation.

He stated instant steps had been additionally wanted to pay pension to beneficiaries underneath authorities schemes.

Telangana officers urged the Centre to permit farmers to purchase all of the inputs with spiked foreign money notes.

Additionally they prompt that the November 24 deadline for making authorities utility funds with outdated notes be prolonged when Telangana has to suffer Rs 3,000 cr loss due to demonetisation.

Photo Courtesy: deccanchronicle.com

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