Election in 5 states: Rs. 60000 Crores in circulation
Posted on: 06/Apr/2016 7:43:55 PM
The Reserve Bank of India Governor, Mr. Raghuram Rajan commented that the circulation of money in the 5 states where general assembly elections are scheduled is expected to be around Rs. 60000 Crores.
Generally, it is observed that the money circulation among the public increase especially during election periods. RBI governor remarked that most of us are aware how this happens. An amount of Rs. 60000 Crores is in circulation among the public during election period in the 5 states. This is not an ordinary affair.
This extra money circulation spreads to the nighbouring states as well. However, RBI governor did not go into details as to how this happens. As the election approaches, several complaints of distribution of money for votes are being received. As per the latest RBI statistics, money circulation has increased by 48 percent.
