Wednesday, 23 February 2011

Issuing coin of Rs. 150 in India

The Government of India is going to issue coins of Rs. 150 as special coin, which marks the number of year’s taxation in India. This is the first time India will issue the coin of Rs. 150.

Honorable Finance Minister Pranab Mukherjee will release this special coin before the Budget speech and will be brought Rs. 5 denomination, when the completion of 150 years of Income Tax Department (from 1860 to 2010)

The Order has been recently notified by the Department of Economic Affairs under the Finance Ministry.

The new coin made of an alloy of Silver, Copper, Nickel and Zinc, with 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 and Rs 5 coin also will be in the same fashion. There will be 200 coins of Rs 150 and 100 coins of Rs. 5.

As per the words of a Senior IT official, "The Income Tax department celebrated 150 years of taxation in the country last year and that the coins, especially the one in Rs 150 denomination will be minted for the first time,"

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