Etala urged the centre to send Rs 500 notes

Hyderabad, Dec 4 : Finance Minister, Etala Rajender requested the Central Govt in extending the funds to rescue the state over currency crisis. He made this statement after attending the GST Council meeting in New Delhi. Seeing the raising concern over the unabated currency crisis in Telangana, Etala made this statement infront of the media.

He said the state was severly hit due to demonetization decision and the state losses a revenue of 20 to 30 percent in the month of November. Due to the objections raising to the non-implementation of RBI orders by banks in the state, the common people are still suffering of currency crisis pointed Etala.

Etala demanded the centre to supply the Rs 500 notes immediately into the public to overcome the difficulties. He urged the Union finance ministry to pass the orders of increasing Fiscal Responsibility and Budget Management (FRBM) limits to Telangana so that it could help to raise the loans to stop the present cash crunch.

He said, "Currency ban decision is also affecting the disbursal of salaries to government employees. The state will have a tough time to pay staffers in the coming months due to fall in overall economic activity and revenue collections,"

For giving relief to poor people Etala demanded and urged the centre to release funds immediately to Telangana.