RBI Policy
Then and now - movement of key data since MPC's April meet
This story was originally published at 15:46 IST on 4 June 2026
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NEW DELHI – The following are changes in some key economic indicators monitored by the Reserve Bank of India's Monetary Policy Committee since it last met in April:
INDICATOR | LATEST | BEFORE APRIL POLICY |
CPI inflation | 3.48% (April) | 3.21% (February) |
Core CPI inflation | 3.4% (April) | 3.4% (February) |
WPI inflation | 8.30% (April) | 2.13% (February) |
Indian crude oil basket (per barrel) | $106.23 (May) | $113.49 (March) |
Core sector growth | 1.7% (April) | 2.3% (February) |
IIP growth# | 4.9% (April) | 5.2% (February) |
GDP growth@ | 7.8% (Oct-Dec) | 7.8% (Oct-Dec) |
GVA growth@ | 7.8% (Oct-Dec) | 7.8% (Oct-Dec) |
Manufacturing PMI | 55.0 (May) | 53.9 (March) |
Services PMI | 59.8 (May) | 57.5 (March) |
Banks' lending rate* | 8.50% (April) | 8.44% (February) |
Credit growth | 16.2% (May 15) | 13.8% (Mar. 15) |
Exchange rate (average) | 95.5/$1 (May) | 92.8/$1 (March) |
India-US 10-year bond yield spread | 253 bps (Jun. 3) | 282 bps (Apr. 2) |
Fiscal deficit | 21.4% of FY27 Budget target (April) | 80.4% of FY26 revised Budget target (Apr-Feb) |
| Net durable liquidity balance | INR 2.66 trillion (May 15) | INR 5.14 trillion (Mar. 15) |
Sources: Clearing Corp. of India Ltd., Cogencis Information Services Ltd., Controller General of Accounts, S&P Global, Ministry of Commerce and Industry, Ministry of Statistics and Programme Implementation, Petroleum Planning and Analysis Cell, Reserve Bank of India, US Department of Treasury
# April IIP growth is based on the new series with FY23 as the base year. Febraury IIP growth is based on the old series with FY12 as the base year.
* Banks' weighted average lending rate for fresh rupee loans
End
US$1 = INR 95.79
Compiled by Shubham Rana
Filed by Avishek Dutta
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