Swami Ramdev Baba explains Currency Circulation
According to data from RBI, our country has a GDP of approximately Rs.60 lac crores and a money circulation of approximately Rs.8 lac crores.
This means we have a 13.33% money circulation(money in circulation/GDP*100)
Now the question is what is so much money doing in our economy ?
If we take a simple conservative figure that every note changes 20 hands in an year it means:
Rs.1 generates a GDP of Rs.20.
Rs.8 lac crores should be generating a GDP of Rs.160 lac crores. So where has the Rs.100 lac crores gone ???
This figure of 20 hand changes of a note during a year is very conservative. If we take it to be 50 then our GDP should be a massive amount of Rs.400 lac crores, meaning Rs. 340 lac crores of money is missing from our economy!!!
So where is this excess money ? Why cannot we see it ? Where is it gone ?
The answer is Black Money. And the location is Swiss Banks.
The question arises that when countries like US, UK, Canada, Russia, South Korea are maintaining a currency circulation of 3%-4% why does our country have a circulation of 13% ???
Baba Ramdev is still waiting for the answer from the Government…