Fake currency linked to terror:
Pranab
Finance Minister
Pranab Mukharjee said here Saturday the challenge of terrorism from across the
border was not confined to danger of loss of life but a threat to the economy
due to fake currency being smuggled into India.
He was in Bhopal
to lay the foundation stone of a new bank note paper unit at the ordnance
factory in Hoshangabad district in Madhya Pradesh.
'The government
has met with major success in countering the challenge of fake currency by
increasing production of currency note paper and use of ultra-modern printing
techniques,' said Mukherjee while addressing the gathering.
He said the use of
currency had increased due to rise in population, growth rate and per capita
income. Till some years ago, paper for currency notes had to be imported, but now
90 percent of the paper for currency notes was being produced in the country.
The finance
minister said that with the construction of this unit, the total capacity of
producing currency paper will go up to 6,000 tonnes from 2,800 tonnes.
Madhya Pradesh Chief
Minister Shivraj Singh Chouhan appealed to Mukherjee to provide employment to
maximum number of local people in the unit.
Director General,
Currency, Bimla Julka said that the country will start producing all the paper
for currency notes for its requirements from 2013.
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