Thaindian News

Hoshangabad (Madhya Pradesh), Dec 17 (IANS) Fake currency is being injected into India from some of the neighbouring countries to destabilise the economy, Finance Minister Pranab Mukherjee said Saturday.

“India is a victim of injection of fake currency in our economy. There are indications that fake currency is being injected from some of our neighbouring countries either as a source or as a route,” Mukherjee said here on the occasion of foundation stone laying ceremony of a bank note printing unit.

He did not name any particular country.

The finance minister said the government had made serious attempts to curb circulation of fake currency by streamlining the enforcement mechanism at the central as well as state levels.

“The efforts have been to increase the risk factors for carriers of fake currency in India. We have to continue to focus in the enforcement to check the design of anti-national elements,” he said.

He said the efforts of the government is to “make security features of Indian currency so strong that it becomes highly difficult to fake.”

“At the same time we are also ensuring that the enforcement mechanism acts as deterrence to those who are involved in the circulation of fake currency. It is expected that this two prong strategy of the government to fight the menace of fake currency in India will yield substantial results in years to come,” he said.