GS3
Economy
10 marks
Discuss the factors behind the recent decline in retail inflation and analyze its implications for monetary policy and household welfare.
Retail inflation — measured by the Consumer Price Index (CPI) — fell sharply to 1.54% in September 2025, the lowest since June 2017 and below the Reserve Bank of India's comfort band of 2–6%. This unexpected dip is driven largely by favourable base effects and benign food price dynamics, but important sectoral imbalances persist and continue to pose risks to price stability.
1. Factors Behind the Decline in Retail Inflation Several interconnected factors have contributed to the sharp fall in India's retail inflation to 1.54% in September 2025:
2. Emerging Concerns and Sectoral Imbalances While headline inflation has eased, certain pockets remain problematic:
3. Policy Implications
In conclusion, while the near-term inflation trajectory is encouraging, policymakers should couple cautious monetary easing with targeted supply-side measures — boosting edible-oil production, ensuring adequate buffer stocks, and monitoring import channels — to secure durable price stability and inclusive welfare gains.
GS3
Science & Technology
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Discuss in the context of the test launch of the LGM‑30G Minuteman III and the concept of the Nuclear Triad.
GS2
International Relations
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GS2
International Relations
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