The Reserve Bank of India's decision to hold rates at 6.5% for the seventh consecutive meeting has drawn sharp criticism from leading economists.
At the core of the disagreement is a fundamental question: what is the RBI's mandate in the current environment?
Core inflation remains stubbornly above 5%, even as global central banks begin cutting. India's Q4 FY26 GDP came in at 7.6% — but growth was driven by government capex, not private investment.