This refers to media reports on the >Prime Minister having noted the suggestion to issue a Rs.25 currency note in order to overcome a shortage of Rs.5 coins. Any such idea will be contrary to the metric spirit of measures introduced in the country back in 1957. Instead, the root cause of the shortage of five rupee coins should be analysed. It was only recently that there were reports of the government planning to reissue one-rupee notes (which have a short lifespan) to overcome the shortage of one-rupee coins caused by widespread melting of the coins. Unfortunately, the emphasis appears to be more on short-term measures. When it eliminated 10 paise and 25 paise coins, the government should have abolished 50 paise coins as well. The new one-rupee coin could have been the size of the earlier 10 paise coin. But since there was abundant stock of coin-blanks in the sizes of the earlier 50 paise and one rupee coins, new coins, for one and two rupees, were issued in these sizes, confusing the public. The government should drop the idea of issuing one and 25 rupee notes and instead issue more coins in the denominations of one and five rupees. The five-rupee coin should be made of stainless steel of a thicker grade to avoid melting. A huge amount of money can also be saved by reducing the size of notes.
Subhash Chandra Agrawal,
New Delhi
