India Broad Money Growth
Annual growth of broad money (M2/M3 equivalent).
Broad Money Growth in India decreased to 11.30 percent in 2021 from 12.48 percent in 2020.
India Broad Money Growth — History
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India Broad Money Growth — analysis in simple words
Latest reading
Broad Money Growth in India decreased to 11.30 percent in 2021 from 12.48 percent in 2020.
Over the last three years it rose once and fell twice.
Recent trend
A year earlier (2020) it was 12.5%, so the latest figure is 1.2 percentage points lower.
Over the past five years the average was 11.0%, with a range from 10.4% to 12.5%. The latest value is above that five-year average.
Historical context
This data series starts in 1961 and has 61 annual observations. The latest reading is higher than 26% of all of them.
The highest value on record is 24.5% (1976) and the lowest is 3.2% (1961). The long-run average is 15.0%.
Compared with other countries
Among 150 economies with recent data, India ranks 61st from the top. The median across all these economies is 9.6%, so India is above the typical country.
Among 12 major economies tracked on this site it ranks 2nd.
Within South Asia (6 economies with data) it ranks 4th; the regional median is 11.4%.
Statistics
- Latest
- 11.3%2021
- Previous
- 12.5%
- 5-year average
- 11.0%
- Long-run average
- 15.0%since 1961
- All-time high
- 24.5%1976
- All-time low
- 3.2%1961
- Observations
- 61Annual
Recent Data
| Period | Value | Change |
|---|---|---|
| 2021 | 11.3% | ▼ −1.2 pp |
| 2020 | 12.5% | ▲ +2.0 pp |
| 2019 | 10.5% | ▼ −0.0 pp |
| 2018 | 10.5% | ▲ +0.1 pp |
| 2017 | 10.4% | ▲ +3.6 pp |
| 2016 | 6.8% | ▼ −3.8 pp |
| 2015 | 10.6% | ▲ +0.0 pp |
| 2014 | 10.6% | ▼ −4.2 pp |
| 2013 | 14.8% | ▲ +3.8 pp |
| 2012 | 11.0% | ▼ −5.1 pp |
| 2011 | 16.1% | ▼ −1.7 pp |
| 2010 | 17.8% | ▼ −0.2 pp |
| 2009 | 18.0% | ▼ −2.5 pp |
| 2008 | 20.5% | ▼ −1.8 pp |
| 2007 | 22.3% | ▲ +0.6 pp |
| 2006 | 21.6% | ▲ +6.0 pp |
| 2005 | 15.6% | ▼ −1.1 pp |
| 2004 | 16.7% | ▲ +3.7 pp |
| 2003 | 13.0% | ▼ −3.7 pp |
| 2002 | 16.8% | ▲ +2.4 pp |
| 2001 | 14.3% | ▼ −0.9 pp |
| 2000 | 15.2% | ▼ −2.0 pp |
| 1999 | 17.1% | ▼ −1.0 pp |
| 1998 | 18.2% | ▲ +0.5 pp |
| 1997 | 17.7% | ▼ −1.1 pp |
| 1996 | 18.7% | ▲ +7.7 pp |
| 1995 | 11.0% | ▼ −9.3 pp |
| 1994 | 20.3% | ▲ +3.3 pp |
| 1993 | 17.0% | ▲ +0.1 pp |
| 1992 | 16.9% |
Broad Money Growth — India vs Peers
Latest available reading for each economy (periods may differ). India highlighted.
More India indicators
Understanding Broad Money Growth — a simple guide
What it measures
The annual growth rate of broad money (currency plus deposits, roughly M2/M3).
How it is calculated
Yearly % change in broad money — cash plus bank deposits.
Growth of 10% means money in the economy rose by a tenth in a year.
Fast money growth reflects strong credit creation and liquidity.
Slow money growth points to tighter liquidity.
Why it matters for the economy and markets
Money growth reflects credit creation and liquidity conditions in the economy.
How to read it
Very fast money growth relative to GDP can precede inflation, but the link is loose in modern economies.
Data source
World Bank — World Development Indicators (series FM.LBL.BMNY.ZG), annual data from 1961 to 2021. Values are shown exactly as published by the source and may be revised later.
How to use the chart
Use the 5Y / 10Y / 25Y / Max buttons to change the time range, or drag the slider under the chart. Hover (or tap) on the line to see the exact value for any period. Dashed lines and hatched bars are IMF projections, not actual data. The “Download CSV” button gives you the full data series.
Frequently asked questions
What is the current broad money growth of India?
What is the highest and lowest broad money growth of India?
What does broad money growth measure?
Data are sourced from official international organisations (IMF, World Bank, BIS) and national authorities, and are shown for educational and informational purposes only. They are not investment advice and no recommendation is made. Figures may be revised by the source; IMF figures for the current and future years are projections. This page was last updated on Saturday, October 17, 2026.