Euphoria gone, Naidu in fire-fighting mode

Gold curbs add to exasperation of public after note ban
Since Prime Minister Narendra Modi declared a cash war, the Naidu government has been unwittingly feeling the heat of the man on the street. There is no let-up in people’s hardships, though three weeks elapsed since the ban of big notes. Limits on gold possession come as last straw for Naidu’s cabinet colleagues to break silence at a cabinet meeting. Naidu no more claims credit for nudging Modi toward the note ban

In a haste to fix his rivals, the Chief Minister unknowingly walks into his own trap; he claimed that he was the man behind the PM’s surgical strike. In the run-up to the note ban, he shot off mails to Modi seeking ban on Rs 500 and Rs 1,000 notes to purge the economy of black money. And, it finally happened, letting the `credit’ go to the AP CM. However, the Naidu government began feeling the aftershocks as the PM’s surgical strike hit the poor and the middle class hard. Even the State economy is not spared. The banks have been subjected to attacks and there appears no end to the cash woes of people all over. Finance Minister Yanamala Ramakrishnudu at a review meeting admitted that the revenue loss triggered by acute liquidity crisis was a whopping Rs 800 crore in November month alone. The loss is estimated to swell up to Rs 1,000 crore, sounding an adverse impact on the State Budget for 2017-18.

“When Modi’s thoughtless action is rocking the entire country, it is high time for us to salvage ourselves from the sinking boat,” comments a senior leader from the TDP. He further adds, “We are an ally. Still we are not happy with the way how the PM handled the monetary system.” The party senior leaders are using the Jana Chaitanya Yatras and TV debates to call a `spade a spade.’ “Modi-Babu Jodi” was projected as an invincible team to combat the general elections in 2014. Will it come of age? It is time to wait and see.

http://www.thehansindia.com/posts/index/News-Analysis/2016-12-04/Euphoria-gone-Naidu-in-fire-fighting-mode/267013