ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Deceleration of Monetary Growth

There was a significant deceleration in monetary growth in 1998-99 if the accruals from the Resurgent India Bonds are excluded. The slowing down was particularly sharp in deposit money growth, attributable to the fall in farm output in 1997-98 and the three-year long industrial stagnation. There was also a decline in income velocity reflecting the slackness in real economic activity.

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