Naidu, who heads the 13-member committee of chief ministers to promote digital payment systems, said though the move has adversely affected the rich and the poor alike, there is a need to identify measures to mitigate their troubles.
"Demonetisation has adversely affected the poor and the rich alike and we need to find ways to mitigate their troubles soon.
"We have certain ways like digital currency, a device to device transactions, imparting digital literacy, banking accounts etc to reduce the burden," he said, adding that a small amount of currency is required to be circulated in the economy for smaller transactions.
During the interaction at HT leadership summit, he said in order to control corruption, the state must be digitally literate.
"Demonetisation has come. The issue is, in future, everybody has to go for digital literacy and transparency. If you want to control corruption in a company or in your state, you must be digitally literate, so that corruption will go and black money will be controlled." Naidu said.
"Technology cannot wait for us and everybody has to go digitally literate in future," he added.
"Every chief minister is trying their best to tackle the demonetisation crisis. All of us should help and support each other in the transition. I believe Andhra Pradesh has better infrastructure than others and I plan to use this technological advancement for a smoother evolution.
"Digital literacy is a must to control corruption and development. I want to instigate digital currency at the soonest to bring transparency in the system," he said.
He said that to achieve this, his state has already synchronised the Aadhaar card with all the schemes and started disbursing the benefits through bank accounts.
Naidu, who was instrumental in making Hyderabad one of the IT hubs in India, said that the demonetisation issue needs to addressed and try to reduce the misery of the public.
"Andhra Pradesh is better compared to other states. We have got a better software and a better penetration of cellphones," he said.
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