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Hyd individual declared ` 10000 cr in black money scheme: CM

Andhra Pradesh Chief Minister N Chandrababu Naidu on Wednesday claimed that out of the Rs 13,000 crore of black money declared in Hyderabad under a recent scheme, Rs 10,000 crore belonged to a single individual, in apparent hints towards his political rivals. He also demanded immediate abolition of currency notes of Rs 1,000 and Rs 500 denominations to curb black money .

“Out of the Rs 65,000 crore disclosed across the country, Rs 13,000 crore was declared in Hyderabad and, out of it, Rs 10,000 crore by a single individual. Who is that, we can’t know as per law.Is it possible for a businessman to declare such huge money,” he told a press conference in his new office at Velagapudi. “In the future, in 2-3 or 5 years, they will again regularise black money,depending on their need. You just pay 40-45 per cent penalty and the rest becomes white. Isn’t that better? Nobody can question. Now, there will no social stigma as well,” Chandrababu said.
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