Andhra Pradesh Chief Minister N. Chandrababu Naidu has known as for the abolition of Rs 500 notes, reigniting debate over high-value foreign money and corruption.
In an unique interview with India Right now, Naidu stated, “All huge currencies needs to be abolished. Solely then can we eradicate corruption.”
“Solely foreign money notes beneath Rs 100 and Rs 200 needs to be there. Not even Rs 500 notes needs to be continued,” Naidu stated.
Naidu’s feedback echo the controversial demonetisation drive of 2016, when Prime Minister Narendra Modi banned previous Rs 500 and Rs 1,000 notes to curb black cash and counterfeit foreign money. The present Rs 500 notes have been launched shortly after, that includes a stone-grey coloration and the Purple Fort motif.
His remarks arrive amid a viral YouTube video claiming the federal government will section out Rs 500 notes beginning March 2026. The video, posted by a channel named ‘Capital TV’ on June 2, garnered over 500,000 views and spurred public anxiousness.
The Centre swiftly debunked the video. “Rs 500 notes have NOT been discontinued and stay authorized tender,” the Press Info Bureau’s Truth Test division clarified in a submit on X. It urged residents to confirm information by official sources.
On welfare insurance policies, Naidu distanced himself from the time period “freebies,” linking social schemes to legacy and necessity. “One factor we’ve to know: earlier there was not a lot welfare. NTR introduced a number of advantages… that’s how welfare began. Now wealth is being created… however the hole between haves and have-nots is widening.”
“Welfare needs to be significant and supply needs to be environment friendly,” he added.
