AN ANALYTICAL STUDY OF TRENDS OF MONEY SUPPLY AND FISCAL DEFICITS IN INDIA DURING 1990-2020

India has undergone substantial economic transformations since its liberalization in the early 1990s, with significant shifts in monetary and fiscal policies. These changes have had a profound impact on key economic indicators, particularly money supply and fiscal deficits, which are essential for understanding the nation's economic health. This study titled explores the evolution of these two crucial variables over a period of three decades. Using secondary data from authoritative sources such as the Reserve Bank of India, Ministry of Finance, and global financial institutions like the IMF and World Bank, the research employs descriptive and analytical methods to track trends, correlations, and comparisons with other emerging economies. The study reveals how India's fiscal and monetary policies, along with major economic events like the global financial crisis and the COVID-19 pandemic, have influenced the dynamics between money supply and fiscal deficits. The findings highlight the need for sustainable fiscal practices to maintain macroeconomic stability and align with global trends.