Clarify stand to scrap Rs 2,000 notes and introduce Rs 1,000 coins, says Opposition

The Opposition on Wednesday confronted Finance Minister Arun Jaitley about the government’s reported plan to scrap the recently introduced Rs 2,000 currency note and introduce a Rs 1,000 coin in its place.

The Opposition on Wednesday confronted Finance Minister Arun Jaitley about the government’s reported plan to scrap the recently introduced Rs 2,000 currency note and introduce a Rs 1,000 coin in its place,┬áBusiness Today reported.

Members of the Opposition sought clarification from the finance minister on the issue present in the house to which he did not respond.

“The government has taken a decision to scrap Rs 2,000 note. The RBI has been given order not to print the Rs 2,000 notes. If any policy decision has been taken during the Parliament Session, the tradition is to announce it in the House,” Samajwadi Party (SP) leader Naresh Agrawal said, raising a point of order during Zero Hour.

Supporting his observations, Leader of Opposition Ghulam Nabi Azad also sought clarification from the government on whether they were planning to introduce Rs 1,000 coins.

“Every day we read about a coin of Rs 1,000, Rs 100 and Rs 200. What is the actual status? Are we to go by what media is writing? The House is to be enlightened by the Finance Minister. What is the truth?” Azad asked. “Are we going to have coin of Rs 1,000. To carry coins, we have to purchase a bag? We must know.”

Agrawal stressed that one note ban had already been done and that a second one is now being planned. “Let the Finance Minister clarify,” he said.

The Reserve Bank of India has printed Rs 7.4 trillion worth of Rs 2,000 notes ever since it demonetised the old Rs 1,000 and Rs 500 notes. However, it has now stopped further printing of the new Rs 2,000 note.

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