During the last financial year ended in March, a total of Rs 96,080 crore was collected through SIP whereas it raised Rs 1,00,084 crore in 2019-20 last year.
Gopal Kavali Reddy, head of research at Fires, said that factors such as the success of the corona virus vaccination in the coming years, better economic scenario than expected and higher income will have an impact on SIP. He said that apart from positive indicators like GST collection, auto and residential sales, intermittent lockdowns as well as IIP and inflation data could affect the economic progress during the current financial year.
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It said that a total of Rs 96,080 crore was collected through SIP during the last financial year ended in March, whereas it raised Rs 1,00,084 crore from it in 2019-20 last year. These figures have been made available by the Association of Mutual Funds in India.Also read- Inflation increased due to second wave of Corona! Mustard oil price reaches ₹ 200, expensive from lentils to canned milk
During this period, the flow in SIP stood at an average of Rs 8,000 crore per month for the year ended in March. SIP contribution to the mutual fund industry has been increasing continuously during the last few years. In the year 2016-17, it was Rs 43,921 crore, while in 2017-18, it reached Rs 67,190 crore and in 2018-19 it reached Rs 92,693 crore. After this, the contribution of SIP touched a figure of one lakh crore rupees in 2019-20.