Towards a Modernized Currency System for India

I got this one from Sreeprakash.

Some interesting currency units being proposed.

Lakhs & Crores no longer work – too many zero’s to handle – so we talk of Lac crores etc
As part of Globalization, one unit which works best is $Billion, which also makes it easier for all to benchmark against their local systems
But for India another simpler system also emerges:

New Units of Money

The huge amounts mentioned in the recent scams have an upside: they have given us convenient new units for communicating large figures:

Rs.1,000 crores= 1 Radia
Rs.10,000 crores= 1 Kalmadi
Rs.1,00,000 crores= 1 Raja

This will make it easier for us to comprehend and communicate large numbers. For example:

Anil Ambani’s new home in Pali Hill will cost Rs 4.5 Radias
Indiaโ€™s total annual subsidy on kerosene is Rs 2 Kalmadis
ONGCโ€™s annual output is worth Rs 1.2 Rajas
Indiaโ€™s loss in the 2G scam is approximately Rs 1.7 Rajas
Poor Pramod Mahajan left behind only Rs 1.4 Radias

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