India News: The government on Monday clarified in Lok Sabha that no new Rs.2000 currency notes were printed in the last year. Union Minister for Finance and Corporate Affairs Anurag Thakur, in a written statement addressed the parliament on this question. He said that new notes were not printed since April 2019 and this is to keep black money from hoarding and circulation.
He also said that before the government proceeds to print new currencies of any particular denomination, it will always approach the RBI regarding maintaining a necessary denomination mix in the economy, facilitating transactional demand for the public. In the year 2019-20, no indent was placed on presses to print new money for the economy.
Even though there was lesser and lesser number quantum of the Rs.2000 currencies, the government did not decide on printing money. Minister also addressed the parliament with the statistics of currencies in circulation.
He informed that there were apparently 3,362 million notes of Rs.2000 currencies in circulation till March 30th, 2018. But, as of now, by February 26th ‘2021 – 2,499 million notes are only in circulation. The currency in volume reduced from 3.27% to 2.01% and in volumes of trade it fell from 37% in 2018 March to 17.78% in 2021.
He also stated that RBI printed 3,542.991 million notes were printed right after demonetization in the fiscal year 2016-17, this reduced 111.507 million notes in 2017-18 and fell to 46.690 million notes in 2018-19.