The central government will release a special ₹75 coin on May 28 to commemorate the inauguration of the new Parliament building.
According to a notification issued by the Union Finance Ministry, the new coin will weigh 35 grams and be composed of a quaternary alloy, with 50% silver, 40% copper, 5% nickel, and 5% zinc.
The commemorative coin will have a circular shape with a diameter of 44 millimetres.
The face of the coin shall bear the Lion Capital of Ashoka Pillar in the center, with the legend Satyameva Jayate inscribed below, flanked on the left periphery with the word Bharat in Devanagari script and on the right periphery the name 'India' in English, the finance ministry said in the notification.
On the back side, the coin will feature an image of the new Parliament complex. On the upper periphery of the back side of the coin, Sansad Sankul will be written in Devnagari script, while the lower periphery will display 'Parliament complex' in English.
Below Sansad Sankul, the year '2023' will be inscribed in international numerals.
Prime Minister Narendra Modi is scheduled to inaugurate the new Parliament building on May 28. At least 20 opposition parties have decided to boycott the event demanding that instead of Modi the new parliament building should be inaugurated by President Droupadi Murmu. The special commemorative coin will be released during the opening ceremony.
Commemorative coins are released by the government to mark any special event or honour famous personalities. It is not intended for general circulation.
Generally, the metallic value of the commemorative coins exceeds their legal value. For example, the ₹75 coin to be released on Sunday, will contain 17.5 gram silver, which is valued at around ₹2000 in the market.