India: Broad money (% of GDP)

Key figures

What the numbers say

In 2021, India's broad money (% of GDP) fell 5.57 percentage points on 2020 (from 87.68% to 82.1%).

Across the 30 yearly changes before that (1991 to 2020), the average change was +1.52 percentage points and a typical year strayed about 2.64 percentage points from that (the standard deviation). This year's change was 2.7 standard deviations below that average, so it was unusually large compared with the rest of the record.

On record, the biggest yearly rise was 10.69 percentage points in 2020 and the biggest yearly fall was 5.57 percentage points in 2021. 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 there is no clear straight-line trend: a straight line explains 18% of the movement over 10 observed years, so the value is moving around more than it is heading anywhere.

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

How it compares

See how every economy compares in the full ranking.

Closest to India in the 2021 ranking

• Micronesia, Fed. Sts. — 1st of 6: 84.87%
• Namibia — 3rd of 6: 72.61%
• Libya — 4th of 6: 64.41%
• Belarus — 5th of 6: 30.73%

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 as a percentage of Gross Domestic Product (GDP) which is the total income earned through the production of goods and services in an economic territory during an accounting period.

Regional and income-group figures are computed by the World Bank as a weighted average.

All 62 values

Broad money (% of GDP) in nearby economies

• Bangladesh — 47.85% (2025)
• Bhutan — 83.35% (2024)
• Maldives — 60.23% (2025)
• Nepal — 131.21% (2025)
• Sri Lanka — 59.46% (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 (% of GDP)?

82.1% in 2021, according to the World Bank (World Development Indicators).

How has it changed since 1960?

It is up 60.03 percentage points from 22.07% in 1960. The highest value was 87.68% in 2020 and the lowest 19.11% in 1967.

Is the latest change in broad money (% of GDP) unusual for India?

In 2021, India's broad money (% of GDP) fell 5.57 percentage points on 2020 (from 87.68% to 82.1%). Across the 30 yearly changes before that (1991 to 2020), the average change was +1.52 percentage points and a typical year strayed about 2.64 percentage points from that (the standard deviation). This year's change was 2.7 standard deviations below that average, so it was unusually large compared with the rest of the record.

Where does this data come from?

The World Bank's World Development Indicators, licensed CC BY 4.0. Original source: International Financial Statistics database, International Monetary Fund (IMF); World Development Indicators Database, World Bank (WB); National Accounts data files, Organisation for Economic Co-operation and Development (OECD).

Source

World Bank, World Development Indicators, indicator FM.LBL.BMNY.GD.ZS, licensed CC BY 4.0. Original source: International Financial Statistics database, International Monetary Fund (IMF); World Development Indicators Database, World Bank (WB); National Accounts data files, Organisation for Economic Co-operation and Development (OECD) 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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