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Rs 5k cr spent on printing of new 500 notes till Dec 8 at Rs 3 apiece: Govt

RBI has printed 365.4 crore pieces of Rs 2,000 notes at the cost of Rs 1,293.6 crore

Press Trust of India  |  New Delhi 

Rs 5k cr spent on printing of new 500 notes till Dec 8 at Rs 3 apiece: Govt

The government has informed the Lok Sabha that about Rs 5,000 crore was spent on printing of new currency notes post As per the information provided by in a written reply, as many as 169.6 million pieces of denomination note were printed till December 8. The amount spent on production of notes was Rs 4,968.84 crore, he said. The minister also informed that the printed 36.5 million pieces of Rs 2,000 notes. The cost incurred is about Rs 1,293.6 crore. Similarly, Rs 522.83 crore have been spent on printing of 17.8 million pieces of Rs 200 notes. "New design notes in the denomination of Rs 50, 200, 500 and 2,000 have been introduced after demonetisation," the minister said. In another reply, he said the surplus transfered from the to the government has declined by Rs 35,217 crore in 2016 -17 mainly on account of increase in expenditure on printing of currency notes. The had transfered Rs 65,876 crore as surplus to the government in 2015-16.

The amount reduced to Rs 30,659 crore in 2016-17. The government on November 8, 2016 announced to demonetise old Rs 1,000 and notes, which together accounted for about 86 per cent of the currency in circulation. About 99 per cent of the scrapped currency was returned to the "Subject to future corrections, based on verification process, the estimated value of Specified Bank Notes (scrapped currency) received as on June 30, 2017 is Rs 15.28 lakh crore," the minister said in reply to another question. As part of its remonetisation exercise, the Reserve Bank came out new notes of and Rs 50. It also introduced notes of Rs 2,000 and Rs 200.

First Published: Mon, December 18 2017. 18:45 IST