Indian Prime Minister Narendra Modi on 28 May 2023 launched a special coin of Rs 75 in order to mark the special inaugural ceremony event of the new Parliament building at the Lok Sabha chamber. As per the official notice released by the Department of Economic Affairs under the Union Ministry of Finance, the coin’s weight is around 35 grams.
As per the Ministry of Finance, the obverse face of the coin will take the Lion Capital of ‘Ashoka Pillar’ in the center with the legend ‘Satyamev Jayate’ marked below. The Ashoka Pillar has been flanked by the name ‘Bharat’ written in Devnagri script on the left periphery and the name ‘India’ in English on the right periphery.
These coins are not for general use and that’s why they won’t be circulated at the public level. They are only commemorative coins, which means they are symbolic and cannot be used for general and bank transactions. The commemorative coins are released by the government of India in order to mark a special event. They come with unique designs that show the event that they represent. These coins are most valued by coin collectors who can add them to their treasured collectibles.
Since 1964, more than 150 such coins have been released by the government on special events and historic occasions. Any person can purchase a Rs 75 coin from the government’s website – www.indiagovtmint.in. Also, please note that the government has not yet revealed the price for this coin as of yet and it will be updated soon.
The Rs 75 coin has a diameter of 44 mm and is made of a quaternary alloy of 50 percent silver, 40 percent copper, 5 percent nickel, and 5 percent zinc, announced the Ministry of Finance before. The coin also comes with 200 serrations alongside its edges.
It is reported that the market price of Rs 75 coin may be in the thousands. Because the material cost of the coin itself is Rs 1,300. The actual price of the coin will be announced by the government shortly and one has to wait for the same.
On Sunday, Modi appreciated the 11 workers who were a part of the construction and development of the new Parliament Building. He gave them mementos and traditional shawls. Modi also communicated with the workers who almost spent three years building the huge complex, which is spread over 64,500 square meters. He also shared how the construction of the complex involved giving jobs to 60,000 workers and mentioned how a digital gallery has been developed to honor them in the complex.
The construction and development of the new complex started in December 2020 as a part of the Central Vista redevelopment project. The Central Vista avenue stretches from Vijay Chowk to India Gate and it has been renamed to Kartavya Path from Rajpath. At the historic event, Modi installed Sengol near the Lok Sabha Speaker’s chair. He shared how he considers the new parliament building to be a temple of democracy.