Page 155 - DECO402_MACROECONOMIC_THEORY_PUNJABI

iekweI 16: mudrw purqI : mudrw dI pirBwSw Aqy smStI ArQSwsqr iv`c iesdw m`hqv

5. kryNsI qo Bwv cln iv`c …………… Aqy not hn[ È؇
(a) DMn (A) isky
(e) rupy (s) iedy iv`co koeI nhI[
6. mudrw purqI dw iek m`hqvpurx huMdy hn -
(a) bYNk (A) kryNsI
(e) nwgirk (s) iedy iv`co koeI nhI[

16.3 modirk smucX Aqy Bwrq iv`c mudrw purqI dw mwp
(Monetary Aggregates and Money Supply Measures in India)

PRIfmYn dw mudrw mMg Pln hr qrW qo kynj qo iBn hY ijsdI Qwly crcw kIqI jw rhI hY –
ijQoN q`k Bwrq iv`c mudrw pUrqI mwp dy ieiqhws dw pRSn hY 1967-1968 q`k RBI dvwrw mudrw dw iek mwqr
pUrqI mwp M pRXog ho irhw sI[M lokW dI mMg jmW Aqy krMsI nUM Swiml krdw sI[pwrMpirk rUp nwl M nUM
sMkrIx mudrw pUrqI dw mwp ikhw jWdw sI[1967-68 qoN 1977 q`k iek ivsqirq mudrw pUrqI mwp pRXog
kIqw igAw ausnUM smucX modirk sMswDn (Aggregate Monetary Resources – AMR) ikhw jWdw sI[ AMR
iv`c krMsI, mMg jmW Aqy smyN jmW nMU Swiml kIqw jWdw sI[ 1977 iv`c BwrqIAw irzrv bYNk ny mudrw pUrqI
dy cwr nvyN mwp pRiqpwidq kIqy hn, M , M , M , Aqy M hY[ iesdw ivsqwr nwl vrxn hyT iliKAw hY –
1 2 3 4
M = jnqw dy kol kryNsI + bYNk dI mMg jmw + irzrv bYNk dy kol hor jmw
1
M = jnqw dy kol kryNsI + bYNk dI mMg jmw + irzrv bYNk dy kol hor jmw + fwkKwno dI bcq XojvwvW iv`c
2
jmw
M = jnqw dy kol kryNsI + bYNk dI mMg jmw + irzrv bYNk dy kol hor jmw + bYNkW iv`c swvDI jmw
3
M = jnqw dy kol kryNsI + bYNk dI mMg jmw + irzrv bYNk dy kol hor jmw + bYNkW iv`c swvDI jmw +
4
fwkKwno dI kul jmw (NSC ƒ C`fky)

ieh qusI not kro
sMkIrx Bwv iv`c mudrw purqI mwp M 1977 dI nvI SMKlw dy M dy brwbr nhI hY, jykr iehnW smuicXW
1
dw sMGtk brwbr hY[ M swry kyNdirAw, rwjX Aqy pRwQimk shkwrI bYNkW dI mMg jmw ƒ Swml krdw hY
1
jdik M kyvl rwjX shkwrI bYNkW dI mMg jmw ƒ Swml krdw hY[
nvI SMKlw iv`c M swry shkwrI bYNkW dI smy jmw ƒ Swml krdw hY jdik smuicXW modirk sMswDm (AMR)
3
iksy vI shkwrI bYNkW dI smy jmw ƒ Swml nhI krdw hY[

1998 iv`c RBI dI kwrXkwrI simiq ny do nvy mwpo dw suJwv idqw ijvy NM Aqy NM [ iesdy Awlvw ies simiq
2
3
ny 3 qrlqw mwp ijvy L , L Aqy L dy leI vI suJwv idqw[ ien iqnW ƒ modirk Aqy qrlqw mmuicXW (Monetary
3
2
1
and Liquidity Aggregates) ikhw jwdw hY[iehnW mwpW dy sMGtk dw ivsqrq vrxn ies pRkwr hY-
1. NM = jnqw dy kol krMsI + mMg jmWvW + irzrv bYNk dy kol hor jmwvW+ AlpkwlIn swviD
2
jmwvW[
2. NM = NM + lMmy smyN swviD jmwvW + iviqX sMsQwvW dw AlpkwlIn PMf[
2 2
3. L = NM + fwkKwny dIAW jmwvW[
1 2
4. L = smyN AviD modirk pRwpiqAW + jmwvW dw pRmwx pq`r + smyN AviD jmwvW[
2
5. L = L + gYr bYNikNg iviqX sMsQwvW dy kol swvrjnk jmwvW[
3 2

LOVELY PROFESSIONAL UNIVERSITY 149