Prime Minister Narendra Modi is expected to hold a meeting with all the Chief Ministers on the impact of the demonitisation of Rs 1,000 and Rs 500 notes.
He gave this impression at an hour long meeting with Telangana Chief Minister K. Chandrasekhar Rao (KCR) at his Lok Kalyan Marg residence in New Delhi on Saturday evening.
The PM is open to offering some more relief to farmers, small traders and housewives and the real estate sector to bail them out of the current cash crunch. The PM is currently assessing the prevailing situation carefully to ensure that only the holders of black money and fake currency were targeted, as per the understanding of the Chief Minister.
KCR, according to sources close to him, had apprised the PM of the ground situation after the scrapping of the big notes on 8 November. KCR had told the PM that real estate, agriculture and small and medium businesses had taken a severe beating and common people were facing difficulties waiting in queues at banks and ATMs for cash.
KCR is the first CM in the country to interact with the PM after demonetisation was announced on 8 November. , PM Modi has chosen a non-BJP and non-NDA CM to get first-hand information of the ground realities after the war on black money. KCR also sought relief for the states in the form of special assistance and moratorium on the loans and interests to be paid by them to the Centre.