New Delhi [India], July 18 (ANI): The volume of notes in circulation in India increased by nearly five per cent, making it 1,30,533 in million pieces during the financial year 2021-22, said the Minister of State in the Ministry of Finance, Pankaj Chaudhary in a written reply to Lok Sabha.

In terms of value, they have increased by 9.9 per cent to 31,05,721 in crores during the financial year.

Also Read | Ireland vs New Zealand 1st T20I 2022 Live Streaming Online: Get Free Live Telecast of IRE vs NZ Cricket Match on TV With Time in IST.

In contrast, the volume and value of the notes in circulation in financial year 2020-21 increased by 7.23 per cent and 16.77 per cent respectively, the Minister said.

The financial year 2016-17 was the only year after demonetization, wherein the value and volume of notes in circulation declined substantially.

Also Read | Jharkhand Shocker: Woman Stabs Husband to Death After He Denies Her Permission to Wear Jeans in Jamtara.

On being asked what were the steps taken to improve the digital payment mechanism without any hidden service charges levied by the service providers, the Minister said that the mission of the Government is to move towards a less cash economy to reduce generation and circulation of black money and to promote digital economy. (ANI)

(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)