India: Broad money (current LCU)

Key figures

What the numbers say

In 2021, India's broad money (current LCU) rose 11.3% on 2020 (from 174.07 trillion to 193.74 trillion).

Across the 30 yearly changes before that (1991 to 2020), the average change was +15.4% and a typical year strayed about 3.9% from that (the standard deviation). This year's change was 1.0 standard deviations below that average, so it was larger than a typical year, though not out of the range seen before.

On record, the biggest yearly rise was 24.5% in 1976. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.

From 2012 to 2021 the straight-line trend is upward, about 12.47 trillion a year. A straight line explains 98% of the movement over 10 observed years.

Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.

A straight-line projection, tested first

Extending that straight line gives about 215.75 trillion for 2024. We show this only because the same method, fitted on earlier years, predicted 2019 to 2021 better than "no change" would have: its average miss was 18.64 trillion, against 34.15 trillion for assuming no change. Treat it as a continuation of the recent pattern, not a forecast of events: it cannot see a recession, a policy change or a revision to the data.

See how a linear trend forecast works and the guide on forecasting without fooling yourself.

Closest to India in the 2021 ranking

• Chad — 2nd of 6: 1.5 trillion
• Namibia — 3rd of 6: 133.08 billion
• Libya — 4th of 6: 102.41 billion

What this measures

Broad money is the sum of all liquid financial instruments held by money-holding sectors that are widely accepted in an economy as a medium of exchange, plus those that can be converted into a medium of exchange at short notice at, or close to, their full nominal value. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. This series is expressed in local currency units.

All 62 values

Broad money (current LCU) in nearby economies

• Bangladesh — 26.39 trillion (2025)
• Bhutan — 233.38 billion (2024)
• Maldives — 71.87 billion (2025)
• Nepal — 8.13 trillion (2025)
• Sri Lanka — 9.46 trillion (2019)

More financial sector data for India

• Domestic credit to private sector by banks (% of GDP) — 44.03% (2025)
• Net domestic credit (current LCU) — 312.8 trillion (2025)
• Net foreign assets (current LCU) — 66.95 trillion (2025)
• Monetary sector credit to private sector (% of GDP) — 44.03% (2025)
• Consumer price index (2010 = 100) — 233.06 (2025)
• Inflation, consumer prices (annual % growth) — 2.4% (2025)
• Claims on central government, etc. (% of GDP) — 20.02% (2025)
• Domestic credit to private sector (% of GDP) — 44.03% (2025)
• GDP deflator (base year varies by country) — 107.1 (2025)
• DEC alternative conversion factor (LCU per US$)

Reading data like this

• Where to find free public data, and how to check it before you trust it — 2 min read
• Data analysis examples: 6 worked from one dataset — 3 min read
• Real change or random noise? A plain guide to reading your numbers — 2 min read

Questions people ask

What is India's broad money (current LCU)?

193.74 trillion in 2021, according to the World Bank (World Development Indicators).

How has it changed since 1960?

It is up 497,689% from 38.92 billion in 1960 (14.98% a year on average, compounded). The highest value was 193.74 trillion in 2021 and the lowest 38.92 billion in 1960.

Is the latest change in broad money (current LCU) unusual for India?

In 2021, India's broad money (current LCU) rose 11.3% on 2020 (from 174.07 trillion to 193.74 trillion). Across the 30 yearly changes before that (1991 to 2020), the average change was +15.4% and a typical year strayed about 3.9% from that (the standard deviation). This year's change was 1.0 standard deviations below that average, so it was larger than a typical year, though not out of the range seen before.

Source

World Bank, World Development Indicators, indicator FM.LBL.BMNY.CN, licensed CC BY 4.0. Original source: International Financial Statistics database, International Monetary Fund (IMF) Figures are fetched from the World Bank API and refreshed monthly; see the series on data.worldbank.org. The full definition and method are in the World Bank's metadata glossary. Comparisons use the same World Bank release.

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