In fiscal year 2023, the share of currency in circulation (CIC) to the gross domestic product in India was nearly 13 percent. Since the demonetization in 2017, the CIC-ratio had considerably grown again.
India witnessed high ratios of CIC to GDP in times of high economical growth. This time, the CIC-ratio is expected to grow during financial year 2021, despite the recession caused by the coronavirus (COVID-19) pandemic and a likewise rise in digital payments.
Share of currency in circulation to GDP in India from financial year 2015 to 2023
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Deccan Herald. (June 4, 2023). Share of currency in circulation to GDP in India from financial year 2015 to 2023 [Graph]. In Statista. Retrieved November 22, 2024, from https://www.statista.com/statistics/1028133/india-currency-in-circulation-as-share-of-gdp/
Deccan Herald. "Share of currency in circulation to GDP in India from financial year 2015 to 2023." Chart. June 4, 2023. Statista. Accessed November 22, 2024. https://www.statista.com/statistics/1028133/india-currency-in-circulation-as-share-of-gdp/
Deccan Herald. (2023). Share of currency in circulation to GDP in India from financial year 2015 to 2023. Statista. Statista Inc.. Accessed: November 22, 2024. https://www.statista.com/statistics/1028133/india-currency-in-circulation-as-share-of-gdp/
Deccan Herald. "Share of Currency in Circulation to Gdp in India from Financial Year 2015 to 2023." Statista, Statista Inc., 4 Jun 2023, https://www.statista.com/statistics/1028133/india-currency-in-circulation-as-share-of-gdp/
Deccan Herald, Share of currency in circulation to GDP in India from financial year 2015 to 2023 Statista, https://www.statista.com/statistics/1028133/india-currency-in-circulation-as-share-of-gdp/ (last visited November 22, 2024)
Share of currency in circulation to GDP in India from financial year 2015 to 2023 [Graph], Deccan Herald, June 4, 2023. [Online]. Available: https://www.statista.com/statistics/1028133/india-currency-in-circulation-as-share-of-gdp/
