Time-to-time demonetisation with expiry date on currency notes, suggests Lok Sabha MP Jayadev Galla

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Indian currency with expiry date
Indian currency with expiry date

New Delhi : One of its kind suggestions came from a Lok Sabha MP that will enable automatic demonetisation in a regular interval of time. Jayadev Galla (TDP) suggested expiry dates on the bigger currency notes that will help in preventing stocking of notes.

During the discussion on Finance Bill 2017, he suggested that "big currency notes can have expiry date so that we can have demonetisation from time to time."

He also suggested introduction of new Rs 200 currency note, while scrapping of Rs 2000 currency note.

Galla also said that in order to motivate the tax-payers, some facilities should be provided to them.

The government had scrapped old currency of Rs 500 and Rs 1,000 on November 8, 2016 and replaced them with new Rs 500 and Rs 2,000 notes.