Currency circulation increased from 8 lakh crore to 21 million crore in three years

New delhi date. December 10, 2019, Tuesday

On November 8, 2016, Prime Minister Narendra Modi announced a ban to prevent black money and boost digital payments. Due to this, the notes of Rs 500 and Rs 1000 were canceled.

Due to this decision of the government, circulation of currency notes in the economy was reduced. However, after three years the circulation of currency notes has increased. Currency circulation was 13 lakh crore in March, 2017, after notation which has increased to Rs 21 lakh crore in March, 2019.

Minister of State for Finance, Anurag Thakur, told Parliament that as of March 2019, circulation of currency has crossed Rs 21 lakh crore. Earlier in March, 2018, the figure was about Rs 18 lakh crore. Whereas in March, 2017, currency circulation was around Rs 13 lakh crore.

Prior to the notation, the currency circulation in March 2016 was Rs 16.41 lakh crore. It means that within three years of notation, circulation of currency has increased by Rs 8 lakh crore.

Trinamool Congress MP Sajda Ahmed of Uluberia Parliamentary Meeting in West Bengal asked if there was an increase in currency circulation after the notation compared to the previous one. In response to this question, Anurag Thakur presented the statistics of currency circulation.

According to information provided by Anurag Thakur, the highest fake notes were seized at Rs 200. The number of counterfeit notes has been reduced to Rs 2000. It is worth mentioning that Prime Minister Modi announced the notation and said that the decision was taken to stop funding terrorism, reduce corruption and curb blackmail.

Rs. The Ministry of Finance rejected reports of the 2000 note closure

(PTI) New Delhi, Ta.10

Anurag Thakur, Minister of State for Finance, has rejected reports of the closing of the 2000 rupee note. In reply to a question in the Rajya Sabha, Thakur said that there was no need to worry about this.

At present there is no need to close 2000 rupee notes. Rejecting the report of the closing of the rupee note from December 31, which went viral on social media, the Prime Minister said that the Rs 2000 note was not closing and 1000 rupee note was not coming to market.