Why currency in circulation going up is good news2 min read . Updated: 08 Apr 2019, 11:31 AM IST
- As any economy grows, the total amount of currency being used in it also grows in absolute terms
- The currency-to-GDP ratio as of March 2017 and March 2018 was 8.69% and 10.70%, respectively
The currency in circulation as on 29 March stood at ₹21.40 trillion. It was up by 60.2% from ₹13.35 trillion as of March 2017, the end of the fiscal in which demonetization took place. Mint dwells on what this means for the Indian economy.
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