“Prime Minister Narendra Modi’s decision to put an end to existing Rs 500 and Rs 1000 notes will put an end to black money and fake note transaction, hawala and real estate boom,” said MP Pratap Simha.
Addressing a press meet here in the city on Wednesday, he said, “The historical decision taken by Modi will put a break on black money transaction and fake note transaction that was affecting the economy of the nation. “According to a report, there are over Rs 17,50,000 crore circulation today in the country in which over 45% is of Rs 500 denomination notes while 39% is Rs 1000. The decision has put an end to transaction of these 84% notes which will benefit in curbing the black money and fake notes. The decision will benefit the banking sectors.”
Reacting to questions on Tippu Jayanti, he said, “It is sad that Chief Minister Siddaramaiah, who belongs to Mysuru region, lacks knowledge on history of Mysuru and the harm Tipu made to the localities and Kannada Language. It is said to know that the state government under the department of Kannada and culture is preparing to celebrate his birthday. We will protest against the celebration of his birth anniversary in front of DC office in the city on Thursday.”