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Kolkata Mint celebrates Diamond Jubilee

Posted on April 1, 2012 at 12:00 AM

In front of a jam packed audience at the grounds within the facility celebration and commemoration took place in the presence of Union Finance Minister Pranab Mukherjee, West Bengal Finance Minister Amit Mitra and other national and local dignitaries.

Mukherjee, who reminded the audience of the “history that is associated with the Mint”, cited the importance of fighting currency forgery.

“In today’s world there are many ways of causing harm to a state and one such way remains the process of counterfeiting which can not only make the people lose their trust on the government but also cause harm to the economy. At one point it was quite high but today we have come a long way from that situation,” he said.

Mitra, who “felt proud to speak at the facility” he “used to observe as a child from the outside”, harped on the importance of “technological advancements” as a means for reducing dependency on imports for currency production.

“The RBI (Reserve Bank of India) wants to double the coin production to 13 billion and so the Kolkata Mint should be going forward towards 3.2 billion coin production target,” he said.

“I have four suggestions. First of all the currency production at the Kolkata Mint should be doubled. Secondly, there should be more job creation because of that. Thirdly there needs to be more research into coin metallurgy and fourthly we should produce things like the optical variable ink within our country so that India not only becomes self-dependent but also the number one exporter in the world,” Mitra said.

Mukherjee reiterated the impact of government initiatives and corporatization that has brought India closer towards being self-sufficient in currency production.

“Apart from the mints at four places we are also making bank notes. At two places we have established paper factories and we are looking to establish an ink factory,” he said.

“One expert committee is being created and definitely expansion will be there,” Mukherjee said.

Mukherjee raised the issue of “skill development and education” as means of reaping the benefits of India’s “demographic dividend” in near future.

“If we cannot make our workforce skilled, then they will be a liability and not a dividend,” he said.

Mukherjee showcased the special commemorative coin launched to mark the celebration and lauded the efforts of the mint personnel “for producing such commemorative coins” and other medals for use by the government and the army.

Source: IBNS
Photo Courtesy: Sanjay Kansal

Forum Discussion Thread

60 Rupees and 5 Rupees Commemorative Coins

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Reply vinod_furtado
8:22 AM on April 4, 2012 
Dear Rony,
As few Queries:
Do you think the 60Rs Commerorative coins will be out for public circulation also.
what is present at the other end of the Coin.
Reply kidromeo
12:47 PM on April 4, 2012 
Nope, the 60 Rupees coin is going to be a non-circulating legal tender.
The reverse side of the coin displays the mint building much like the design of the mint medallions that accompanied the Proof sets earlier.
Reply Vivek Rohilla
4:39 AM on April 10, 2012 
when the booking of these will start
Reply kidromeo
7:02 AM on April 10, 2012 
Please read the related discussion thread: