Unique Tax IDs registered on NSE rose from 2.7 crore to 9.2 crore: Economic Survey 2023-2024

The Economic Survey 2023-24, presented by Union Finance Minister Nirmala Sitharaman, highlights a significant increase in retail investor participation in India's capital markets. Unique tax IDs registered on the NSE surged from 2.7 crore in FY19 to 9.2 crore in FY24, indicating a growing interest among young investors with a higher risk appetite. Retail investors now account for 35.9% of equity cash segment turnover and have shown increased interest in derivatives trading. Mutual funds have also seen substantial growth, with annual net SIP flows doubling over three years, pushing mutual fund ownership in Indian equities to 9.2% by December 2023.