Neelabh SrivastavaNew Delhi, Feb 22 (PTI) For the first time in thecountry''s minting history, government will issue coins ofRs 150 denomination, marking the number of years of taxationin India.
The special coins, to be released by Finance MinisterPranab Mukherjee before his Budget speech, will also bebrought out in Rs 5 denomination on completion of 150 years,from 1860 to 2010, of the Income Tax department.
This is the first time that coins of Rs 150denomination are being minted by the government. TheDepartment of Economic Affairs under the Finance Ministryrecently notified the order.
The Rs 150 coin, made of an alloy of Silver, Copper,Nickel and Zinc, will have an international design with''Satyameva Jayate'' and ''India'' on the front side while aportrait of ''Chanakya and lotus with honeybee'' on the reverseside.
The Rs five coins will also be minted in the samefashion. While 200 coins will be minted in Rs 150denomination, 100 such coins of Rs five will be issued.
"The Income Tax department celebrated 150 years oftaxation in the country last year and the these coins,especially the one in Rs 150 denomination will be mintedfor the first time," a senior I-T official said.