New Rs 125 coin to be released soon? Check this out

Coins in Indian currency have mostly been in low denominations, but here is a high denomination coin that is coming soon, but it is doubtful whether you will ever get to hold it in your hands, unless you go to extreme lengths to procure one. The government has decided to actually launch a Rs 125 coin soon, but it will not be for mass circulation purposes. On the occasion of Statistics Day and 125th birth anniversary of P C Mahalanobis on Friday, Vice President M Venkaiah Naidu will release a commemorative coin of Rs 125. The Rs 125 coin will be released to pay respect to statistical genius Mahalanobis.

June 29 is counted Statistics Day in the category of special days. The government designated  the day as special day in 2007. This will be celebrated every year. This initiative was taken to create awarenes about role of statistics in policy formation.  To celebrate Statistics Day, the Ministry of Statistics & Programme Implementation and Indian Statistical Institute (ISI) will conduct in Kolkata, a PTI report said. Mahalanobis had  set up ISI in 1931 to impart statistical knowledge to students. Now, the students of the institute are playing significant roles in framing policies in various government departments. 

Mahalanobis  was an applied statistician and he was also one of the members of the first Planning Commission after India got Independence. He contributed to the design of large-scale sample surveys in India and the practice has helped the country in framing the economic policies. His contribution is acknowledged by one and all. The Statistics Day might bring awareness among the people about his contribution to statistics and Planning Commission. The Planning Commission has been replaced with NITI Aayog a few years ago, but application of stitistics will always remain in practice for framing socio-economic policies.