RBI sources maintain that India’s inflation remains moderate by historical standards and well within the RBI’s tolerance band, yet the steady upward climb since early 2026 and the sharp food contribution have returned price stability to the centre of the policy conversation.

Patient advocacy groups and state regulators have broadly welcomed the direction of travel, while noting that margin caps alone cannot solve every affordability challenge.

For a country that once stood as a global example of rapid poverty reduction, the cost of inaction is measured not only in percentage points of GDP, but in the daily struggles of millions of families left without the support they need.