What is the signifi cance of money in an economy? How important is money for an economy to function? Th e supply of money is a fl ow variable. Until the year 1967–68, the RBI used to publish data...

What is the signifi cance of money in an economy? How important is money for an economy to function?

Th e supply of money is a fl ow variable.

Until the year 1967–68, the RBI used to publish data only on what is called the broad measure of money supply.