No Plans To Print Rs. 2000 Notes To Overcome Crisis, says Nirmala Sitharaman

No Plans To Print Rs. 2000 Notes To Overcome Crisis, says Nirmala Sitharaman

Union finance minister Nirmala Sitharaman said that the government has no plans to print currency notes to overcome the economic crisis faced by country due to the outbreak of the coronavirus disease.

She was asked a question by a member of the Lok Sabha about any such plans on Monday, to which Sitharaman replied "No Sir".

India's Gross Domestic Product (GDP) contracted by approximately 7.3 per cent during 2020-21, but added that the fundamentals of the economy remain strong, stated Sitharaman.

She further added, "The fundamentals of the economy remain strong as gradual scaling back of lockdowns, along with the astute support of Atmanirbhar Bharat Mission has placed the economy firmly on the path of recovery from the second half of FY 2020-21."

Earlier in March, the government had informed Parliament that Rs. 2,000 currency notes have not been printed in the last two years.

Anurag Thakur, who then held the portfolio of minister of state for finance, said, "During the years 2019-20 and 2020-21, no indent has been placed with the presses for printing of ₹2000 denomination banknotes."

Thakur also added that printing of banknotes of a particular denomination is decided by the government in consultation with the Reserve Bank of India (RBI) to maintain desired denomination mix for facilitating transactional demand of the public.

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