The government will issue a commemorative coin with the denomination of ₹75 to mark the opening of the new Parliament Building. Prime Minister Narendra Modi will inaugurate the new building on May 28.
“The coin of Seventy-Five Rupees denomination shall be coined at the Mint for issue under the authority of the Central Government on the occasion of Inauguration of New Parliament Building,” a gazette notification by the Finance Ministry said.
Though commemorative coins are considered legal tender, they are not released for general circulation. One can source them from the specified agencies.
The face of the coin will bear the lion capitol of Ashoka Pillar in the centre with the legend ‘Satyamev Jayate’ inscribed below, flanked on the left periphery with the word ‘Bharat’ in Devnagri script and on the right periphery with the word ‘India’ in English.
It shall also bear the Rupee symbol ‘₹’ and denominational value ‘75’ in the international numerals below the lion capitol. On the reverse face, the coin shall bear the image of Parliament complex.
The inscription, Sansad Sankul will be written in Devnagari script on the upper periphery, and the inscription ‘Parliament Complex’ in English shall be written on the lower periphery of the coin. The year ‘2023’ in international numeral shall be written below the image of Parliament complex.
The standard weight of the coin will be 35 grams with a circular shape and diameter of 44 millimetre. It will have 200 serrations. The metal composition will be a quaternary alloy with a composition of silver (50 per cent), copper (40 per cent), nickel (05 per cent) and zinc (05 per cent).
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The new building will replace the existing one, which is now going to be almost 100 years old.
According to the Lok Sabha Secretariat, the newly constructed building, which will work to further enrich India’s glorious democratic traditions and constitutional values, is also equipped with state-of-the-art facilities which will help the Members to perform their functions in a better way.
In the present building of the Parliament, there is a provision for the sitting of 543 Members in the Lok Sabha and 250 in the Rajya Sabha.
Keeping in view the future requirements, arrangements have been made for a meeting of 888 members in the Lok Sabha and 384 members in the Rajya Sabha in the newly constructed building of the Parliament. The joint session of both Houses will be held in Lok Sabha Chamber.
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‘Lack of space’
In the existing Parliament building, there was a lack of space and convenient arrangements for the sitting of the MPs which was affecting the efficiency of the work of the Members, said the secretariat.
Considering the above, both the Lok Sabha and the Rajya Sabha passed resolutions urging the government to construct a new building. Consequently, on 10 December 2020, the foundation stone of the new Parliament building was laid by Prime Minister Narendra Modi.