What is the writing on the attached image?

Mon Feb 14 13:00:05 UTC 2011

As it seems, the Pāṇini stamp was issued on August 30, 2004:

http://www.pib.nic.in/newsite/erelease.aspx?relid=3583

It is listed on the website of the India Post:

http://www.indiapost.gov.in/Netscape/Stamps2004.html

Perhaps the people whose addresses are given at the bottom of the second 
webpage will be able to give more information about the design(er) of the 
stamp.

Best,
D.D.

________________________________________

   Dr. Dragomir Dimitrov
   Indologie und Tibetologie
   Philipps-Universität Marburg
   Deutschhausstr. 12
   35032 Marburg
   Germany

   Tel.: +49 6421 28 24640, +49 178 9190340
   E-mail: dimitrov at staff.uni-marburg.de
   http://www.uni-marburg.de/indologie
________________________________________