Buoyant economic outlook and increased market participation helped drive the inflows in the mutual fund industry through systematic investment plans or SIPs route to record Rs 2 lakh crore in 2023-24, marking a rise of 28 per cent year-on-year. In comparison, an inflow of 1.56 lakh crore was witnessed through this route in 2022-23, Rs 1.24 lakh in 2021-22 and Rs 96,080 crore in 2020-2021, data with the Association of Mutual Funds in India (Amfi) showed.

Moreover, mutual fund SIP contribution has seen over four-fold rise during the last seven years. It was Rs 43,921 crore in 2016-17.

Additionally, SIP book has also grown consistently from Rs 14,276 crore in March 2023 to an all-time high of Rs 19,270 crore in March 2024, indicating a growth of 35 per cent.

The SIP contributions consistently exceeding Rs 19,000 crore for two straight months in February and March this year signal a shift towards a more disciplined investment strategy among investors.