Telangana Chief Minister K. Chandrasekhar Rao has decided to develop his native Siddipet Assembly constituency as a “cashless” unit within a year. KCR has shared his resolve with Prime Minister Narendra Modi who visited Hyderabad on 26 November to participate in the DGPs’ conference.
Under the CM’s plan, Siddipet, which has a municipality and 75 villages, would be the first cluster of rural areas where there won’t be cash transactions above the value of Rs 500. Any deal or sale above the value of Rs 500 would be carried out through either cheques, or cards or electronic transfer of money.
KCR, who has represented Siddipet four times since 1985, had implemented many developmental schemes in the area, which is about 75 km from Hyderabad. KCR later handed over this Assembly segment to his nephew T. Harish Rao, who is currently the Major Irrigation Minister in his uncle’s Cabinet.
KCR, who chaired a Cabinet meeting on Monday, told his colleagues that the PM was very impressed with his presentations and the fact that Siddipet would be developed as a cashless Assembly constituency very soon. “If we will be able to do, I can even invite the PM to visit the area,” an elated CM is said to have remarked.
Talking to The Sunday Guardian on Saturday on phone, Minister Harish Rao said: “The CM is very particular in leading the nation in going cashless so that the problems of cash shortage can be sorted out and the economy is cleaned.” Rao said that he has announced cash rewards of Rs 10 lakh for the first village to go cashless and Rs 5 lakh and Rs 2 lakh to the subsequent second and third villages.
The minister, however, admitted that the challenge was huge as a majority of the people, traders and vendors were not
aware of card payment or internet banking. Although a tiny portion of business people presently use card swiping machines, the government would encourage them to switch over to card and cheque payment, he said.