New printing press has been inaugurated in Hoshangabad district of Madhya Pradesh for the printing of Currency Notes. Till now, the notes paper and ink were imported from outside. Prime Minister Narendra Modi inaugurated the printing press on Saturday in the presence of Madhya Pradesh Chief Minister Shivraj Singh Chauhan, Finance minister Arun Jaitly. It is a part of “Make in India “program of Prime Minister. Prime Minister said that it is a start of Make in India program and will help India in reducing import and thus reducing the burden of foreign payments. Production to play a crucial role in the Indianisation of currency notes.
Government to save Rs 1500 Crore from this new Printing press and has annual capacity of 6,000 tonnes at the Security Paper Mill (SPM).