Don’t get confused readers. If you are an Indian, then you would know very well that the one rupee Indian note contains the picture of Gandhi. Until now, Reserve Bank of India used to bring special papers from abroad to make notes. The first notepaper manufacturing unit will be set up in Mysore. After completion, everything will be done in India. I am quoting from the news published in Hindustan Times:
“The country's first ever currency note paper manufacturing unit will be soon set up at the Reserve Bank of India Note Mudranalaya in Mysore.
Informing this to reporters in Mysore on Sunday, Note Mudranalya Employees Union President Ramadas said the Centre had given technical approval as well as administrative clearance for the unit. The Prime Minister's Office had also given its nod for the project, he added.”
This manufacturing unit will save the government Rs. 300 crore annually. Until now, for currency production, India used to buy papers from Ukraine, Britain and Germany.
Indian government has taken this decision at a time, when Indian economy is at its peak. Businessmen inside the country are now planning to expand business in abroad and many foreign investors are trying to get into India. In addition, the financial condition of Indian middle class has improved significantly. Money transactions inside and outside the country will increase a lot. So, there is a good possibility of increase on the demand of currency.
I think, Indian government deserves applause for this decision.
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