KCR meets Modi, explains on revenue loss

ak-yadaTelangana Chief Minister K Chandrasekhara Rao has explained to Prime Minister Narendra Modi the heavy loss of revenue and also the trouble the common man is facing for getting cash in lesser denomination. Mr Rao met Chief minister n New Delhi today amidst raging controversy over demonetisation of currency of higher denomination. This was Modi’s first meeting with any Chief minister following his radical move and in a way he initiated a process of consultation on the issue to address larger issue of curbing black money, according to sources.
Mr Rao, though supported the move, has brought to the notice of the Prime Minister that Centre’s sudden decision has in deed hit the lower and middle income groups in a big way. He has reportedly told him that there is revenue fall of Rs 7000 crore in the state and the prime sectors that were hit being excise, real estate and commercial taxes. He has also said that cooperative system has also suffered heavily.
Mr Rao has reportedly asked the Prime Minister to ensure no commoner is suffered.

Medaram Jathara

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