Chandrababu Naidu knew about demonetization, says Jagan

Hyderabad: YSR Congress Party chief Y.S. Jaganmohan Reddy, popularly called Jagan, on Wednesday alleged that Andhra Pradesh Chief Minister N. Chandrababu Naidu had prior information about the Centre's move to scrap high value currency notes.

Talking to reporters in Rajamahendravaram in Andhra Pradesh, he said the decision to spike Rs 1,000 and Rs 500 currency notes was leaked to some selected persons, including Naidu, whose Telugu Desam Party (TDP) is a partner in the ruling coalition at the Centre.

Jagan, who is Leader of Opposition in the Andhra Pradesh assembly, said Chandrababu Naidu sold shares of his dairy company Heritage Foods three days before Prime Minister Narendra Modi announced demonetisation.

YSR Congres Party leader Chandrababu Naidu's October 22 letter to the Prime Minister, seeking scrapping of high-value notes, also proves that the information was leaked to him.

Jagan claimed that the leak gave the TDP president a month's time to make the required adjustments but the people were left to fend for themselves.

Jagan said the government should have consulted the opposition and a cross section of people before taking the key decision.

He said while demonetisation may be the right decision to curb black money, lack of proper implementation was causing severe hardships to people.