Naidu hails PM announcement on Rs 1,000, Rs 500 notes

Andhra Pradesh Chief Minister Chandrababu Naidu tonight welcomed Prime Minister Narendra Modi's announcement that Rs 1,000 and Rs 500 notes will become invalid with effect from midnight, terming it as a "major step" forward in wiping out black money from the system.
"This a major step forward towards wiping out black money. This will also pave the way for eliminating corruption," he said in a statement, minutes after Modi made the surprise announcement in a televised address to the nation.
He complimented the Prime Minister for taking such a bold decision.
Naidu was the first important politician to raise the demand for abolition of Rs 500 and Rs 1,000 currency notes three years ago, saying such a step will weed out corruption and buying of votes.

Last month, he wrote a letter to Modi reiterating his demand.
The PM's announcement on demonetisation of Rs 1000 and Rs 500 notes is being seen as a major assault on black money, fake currency and corruption.