MINISTER OF STATE IN THE MINISTRY OF FINANCE (SHRI NAMO NARAIN MEENA)
(a) and (b) : According to Reserve Bank of India (RBI), the essential
commodities inflation with weight of 14.4 per cent in Wholesale Price
Index (WPI), moderated and was placed at 4.1 per cent in January, 2011.
High inflation of essential commodities during 2009 and first half of
2010 was mainly due to supply side factors, particularly, high food
prices, both primary as well as manufactured food products such as
sugar.
(c), (d) and (e): The problem of smuggling and circulation of
counterfeit Indian currency notes has gained significance over the past
few years. As per the information furnished by National Crime Record
Bureau (NCRB), the value of counterfeit currency (seized and recovered)
during the last three years is as follows:
(in Rs.)
Denomination 2008 2009 2010
1000 5,97,46,000 5,30,01,000 7,22,16,000
500 17,52,44,000 15,38,01,500 17,18,64,000
100 2,22,64,000 2,16,43,600 1,33,80,800
50 16,11,000 15,91,650 7,92,750
Others 14,722 59,617 19,339
Total 25,88,79,722 23,00,97,367 25,82,72,889
The steps taken by the Government to curb circulation of Fake Indian
Currency Notes (FICN) in the country include stepping up of vigilance by
the Border Security Force and Custom authorities to prevent smuggling of
fake notes; dissemination of information on security features through
print and electronic media and formation of Forged Note Vigilance Cells
in all the Head Offices of the banks. Additional security features have
also been incorporated in the bank notes in 2005 and further strengthening
of security of bank notes is underway. A High Level Committee headed by
the Union Home Secretary comprising officials from central agencies and
other senior police officials has been constituted to monitor and draw a
comprehensive strategy to combat FICN. Similar bodies have also been set
up in the States. In addition, Government of India have nominated the
Central Bureau of Investigation as the Nodal Agency to monitor
investigation of fake currency note cases. The RBI has also strengthened
the mechanism for detection of counterfeit notes by the Banks.