Economy

Reserves have added nearly $50 billion in seven weeks, yet the rupee barely moves. The RBI's forward book reveals what intervention is really optimising for.

Brent is back near $95 and the Urals discount has vanished. We map how crude and LNG bands move India's current account, deficit and inflation.

FY26 delivered 7.7% real growth on a 1.1% deflator. That gap flattered volumes, starved tax collections, and blew a 210-basis-point hole in the debt ratio.

A look at the consumption, capital and productivity engines behind India's 7.7% FY26 print, and whether they can hold a 7% trajectory through the decade.

Energy shocks are fading and headline prints are softening. Services inflation — sticky, wage-linked, slow to turn — is quietly deciding what the central banks do next.

The RBI shut a dollar window early after $56 billion poured in. Behind that decision sits an economics problem India can manage but never escape.

Five years, ₹2.40 lakh crore invested and ₹35,354 crore paid out. India's PLI scheme is being rebuilt sector by sector, and the underlying data explains why.

States borrow nearly as much as the Centre but attract a fraction of the scrutiny. Here's what their numbers reveal about India's real fiscal risk.