Economy, asked by anguralaskar563, 1 year ago

what is the role of money in Indian economy?​

Answers

Answered by Anonymous
5

Money performs many functions in a modern economy. ... Thus, money is a medium of exchange, a measure of value, a store of value, and a standard of deferred payments. Medium of exchange: The most important function of money is that it acts as a medium of exchange. Money is accepted freely in exchange for all other goods.

Answered by govindspatel421
1

Answer:

Explanation:

When money is released by the RBI (Reserve Bank of India) into the economy, it goes into circulation through transactions. The government may pay the people it employs, buy goods and services, give subsidies, and so on. Part of this money is kept by the recipients and the rest goes back into bank accounts.

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