"I understand there will be bad money everywhere... In every part of the society, in politics, in public life and even in cinema. We need to get rid of it so that we can have peaceful life and we can have a progressive future," he said addressing the inaugural function of International Film Festival of India (IFFI) near here.
"This cleansing set in motion by Prime Minister (Narendra Modi) should add good to the film industry also. I am happy that the first people to welcome the move of the Prime Minister are from the cinema industry. They have welcomed it," Venkaiah added.
"But today you have seen the position, some people are not able to sleep or weep publicly because they have lot of unaccounted money, so cleaning of India is going on," said the Minister.
On November 8, Modi had announced the decision to demonetise Rs 1,000 and Rs 500 currency notes.
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Naidu said the campaign which is going on is not about the Prime Minister but about 'Making of Developed India'.
"There is a campaign going on in the country for Modi not Narendra Modi. Modi means 'Making of Developed India', that is a campaign going on. Join the campaign, set good examples, create role models," Venkaiah said.