Question

what is the cost of production of new currency of india and is it justified.​

Answer 1

Answer:

Explanation:

The government of India spends Rs 4.18 on each Rs 2,000 note. The cost of printing of each Rs 500 note is Rs 2.57 and for Rs 100 note it is Rs 1.51.

While for each Rs 10 note the cost incurred by the government is Rs 1.01. Interestingly, the Rs 20 note is 1 paisa cheaper than the Rs 10 note.

Denomination Price Per Thousand pieces (in Rs) Price per Note (in Rs)

Rs 10 1010 1.01

Rs 20 1000 1

Rs 50 1010 1.01

Rs 100 1510 1.51

Rs 500 2570 2.57

Rs 2000 4180 4.18

We also tried to find out the difference between the costs of printing old demonetised notes and the new Rs 500 and Rs 2,000 notes.

The RTI revealed that it took Rs 3.09 to print the old Rs 500 note, which means the new Rs 500 note is 52 paise cheaper than the old Rs 500 note.

Meanwhile, the Rs 1,000 note was printed at a cost of Rs 3.54. Thus, the printing of the new Rs 2,000 note costs 64 paise more than the printing of the Rs 1,000 note.

Denomination Price Per Thousand pieces (in Rs) Price per Note (in Rs)

Rs 500 3090 3.09

Rs 1000 3540 3.54