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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.

The bill’s first reading in Parliament marks only the start of a legislative process that will face intense domestic and international scrutiny. Civil-society organisations, legal professionals and minority communities are expected to press for substantial revisions.

Balancing genuine efforts to combat illicit finance with the protection of civic space remains a test that international standards – and international observers – will closely watch.

Bhutan’s experience offers a cautionary tale for other countries experimenting with or contemplating strict tobacco controls.

The developments in Nepal illustrate a familiar tension across many democracies: the challenge of establishing effective self-regulation and accountability mechanisms without creating tools that could be used to constrain critical reporting.

The October policy reflects a careful recalibration: prioritising price stability without derailing an economy that continues to demonstrate resilience in the face of global headwinds.