Chhattisgarh: First state to adopt resolution on demonetisation

Posted on:17 Nov 2016 17:59:20
Chhattisgarh: First state to adopt resolution on demonetisation
17 November 2016 Current Affairs: Chhattisgarh became the first state of India to adopt a resolution that welcomes the demonetisation scheme of the union government. The resolution was moved in the state assembly by Chief Minister Raman Singh.

The resolution on 16 November 2016 saw 41 votes in favour and 25 against in assembly.

Earlier on 8 November 2016 at 8:00pm, Prime Minister Narendra Modi demonetised the high-value currency notes of India. He announced 1000 and 500 rupees notes will cease to be legal tender from midnight 8-9 November 2016.

Highlights : The decision will help in flushing out black money from the system.

It would also usher the clean transaction and clean money system. It will also impact various contentious issues that plague the system.

Besides, the Chief Minister also said that his government will take steps that encourage people in the small business to switch over to the e-payment system. He added that the places with swipe-machines will be exempted from the Value Added Tax (VAT).

Apart from this, the state government has made all arrangements to make online payments to farmers for their paddy procured under support price system.

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