Indian Finance ministry is taking a bold step ahead, by launching Rs 150 coin for the first time in India. Till now we had coins of Rs 1 2 5 and 10 but now we will see a currency of Rupees 150. The special coins, to be released by Finance Minister Pranab Mukherjee before his Budget speech, will also be brought out in Rs 5 denomination on the occasion of completion of 150 years, from 1860 to 2010, of the Income Tax department.
This is the first time that coins of Rs 150 denomination are being minted by the government. The Department of Economic Affairs under the Finance Ministry recently notified the order.
The Rs 150 coin, made of an alloy of Silver, Copper, Nickel and Zinc, will have an international design with ”Satyameva Jayate” and ”India” on the front side while a portrait of ”Chanakya and lotus with honeybee” on the reverse side.
The Rs 5 coins will also be minted in the same fashion. While 200 coins will be minted in Rs 150 denomination, 100 such coins of Rs 5 will be issued.
“The Income Tax department celebrated 150 years of taxation in the country last year and the these coins, especially the one in Rs 150 denomination will be minted for the first time,” a senior I-T official said.
What will be the size of this coin and will it see the same fate as other coins which end up at the jewellery shop melted with silver ornaments is something worth noting. As with the advent of ATM machines these coins have been reduced in number. We only see 100 500 and 1000 rupees denomination more often.
Source:yahoo.com