On May 25, the Government of India’s Ministry of Finance issued a notification to mint ₹75 coin to mark the inauguration of the new Parliament building. The commemorative coin will also honour India’s Azadi Ka Amrit Mahotsav, the 75th anniversary of India’s independence. Prime Minister Narendra Modi will inaugurate the new Parliament on May 28, and as per reports, about 25 political parties are scheduled to attend the event.
The coin’s design will adhere to the guidelines outlined in the First Schedule of the Constitution. According to the notification, the coin’s denomination would be Seventy-Five rupees. The coin’s dimensions will be circular with a diameter of 44 millimetres and 200 serrations along the edges.
The coin would be made up of quaternary alloy. The metal composition is divided into 50% silver, 40% copper, 5% nickel and 5% zinc. The standard weight of the coin is 35 grams.
The front side of the coin would feature the Lion Capital of Ashoka Pillar in the centre with the legend ‘Satyamev Jayate’ inscribed below in the Devanagari script. The left periphery will be inscribed with ‘Bharat’ in the Devanagari script, and the right will have ‘INDIA’ inscribed in English. It will also feature the Rupee symbol ‘₹’ and the denominational value ‘75’ in international numerals below the Lion Capital.
The back side of the coin will bear the image of the new Parliament Complex. The inscription ‘Sansad Sankul’ will be written in the Devanagari script on the upper periphery. The inscription ‘PARLIAMENT COMPLEX’ will be written in English on the lower periphery. The year ‘2023’ in international numerals will be written below the image of the Parliament Complex.
Prime Minister inaugurating the new Parliament building has sparked a row amongst political parties. Apart from parties in the BJP-led National Democratic Alliance (NDA), the ceremony will be attended by Biju Janata Dal (BJD), Yuvajana Sramika Rythu Congress Party (YSRCP), Shiromani Akali Dal (SAD) and Bahujan Samaj Party (BSP).
What’s a commemorative coin?
Commemorative coins honour a specific event or subject and typically have a unique design that reflects the occasion. Since India’s Independence in 1947, the Reserve Bank of India (RBI) has issued more than 350 commemorative coins.
In 1964, India produced its first commemorative coin, which featured the country’s first prime minister Jawaharlal Nehru. It was issued to mark the occasion of his birthday. After that, numerous commemorative coins were produced throughout the subsequent years. Commemorative coins have been created by all four Indian mints: Mumbai, Kolkata, Hyderabad, and Noida. The commemorative coins can be issued for general circulation or specifically for coin collectors.
From 5 paise to 100 rupees, many denominations of commemorative coins are issued. The lower denomination coins are often intended for general circulation and typically have the same metal composition as the standard coins. On the other hand, higher denominations are only meant for collection purposes and usually contain some silver.
Recently, the government issued to mint Rs 100 to mark the 100th episode of Prime Minister Narendra Modi Prime Minister Narendra Modi’s monthly radio programme ‘Mann Ki Baat’. The 100th episode was completed on April 30.
The Modi government also plans to roll out a Rs 100 silver coin to mark the 100th birth anniversary of former Chief Minister of Andhra Pradesh Nandamuri Taraka Rama Rao (NTR) on May 28. He was also the founder of the Telugu Desam Party (TDP).
As a part of the Ministry of Finance and Corporate Affairs’ celebrations for “Azadi Ka Amrit Mahotsav,” Modi unveiled a new range of coins. Re 1, Rs 2, Rs 5, Rs 10, and Rs 20 coins commemorate the 75th anniversary of India’s independence. However, these coins are also intended to be used as regular currency, not merely to serve as commemorative coins.
Last year, at the 90th Interpol General Assembly, the prime minister released a commemorative postal stamp and commemorative coins of Rs 100 denomination in New Delhi. Last July, the centre issued a Rs 175 coin to mark 175 years of the establishment of IIT-Roorkee.