Jammu and Kashmir Chief Minister Mehbooba Mufti has welcomed the decision of the Central Government to ban currency denominations of Rs 500 and Rs 1,000, saying the step was needed to check the scourge of black money and corruption in the country.
The Chief Minister described corruption as a "vicious menace" which eats up the vitals of growth and development of a society and the country.
She hailed Prime Minister Narendra Modi for his boldsteps to check corruption, illegal transaction of money andother such evils which hamper the development of the country.
The Chief Minister said though the step would entail temporary inconvenience to people but its positive effectswould be in the larger and long-term interests of the countryand people.
Meanwhile, Deputy Chief Minister Nirmal Singh welcomed the decision of the Central Government to withdrawcurrency denominations of Rs 500 and Rs 1,000 maintaining thatthe step would go a long way in eradication of moneylaundering and corruption.
While describing the step as a historic, the Deputy Chief Minister said that the Prime Minister has taken severalmeasures to end the menace of corruption. He said that corruption is the scourge which is eatinginto the vitals of the country thereby hampering its overalldevelopment.
He said the historical initiative should bewelcomed by one and all. The Deputy Chief Minister informed that he has alreadytaken up the issue of inconvenience being faced by certain traders at toll posts with the State Finance Minister. He said the remedial measures in this regard would besoon taken.