New Delhi, Oct. 20 -- The current financial year 2025-26 has been interesting for many reasons. It started with great relief for personal income taxpayers, as the government announced a rise in the annual exemption limit to Rs.12 lakh-about 5 times the national per capita GDP-from Rs.7.5 lakh earlier.

Then the Reserve Bank of India (RBI) cut interest rates by 50 basis points in June, following cuts of 25 basis points each in February and April-a total of a percentage point.

Retail inflation, measured by India's consumer price index (CPI), decelerated to just 1.7% as an average of three months' on-year monthly readings till September, marking the lowest level in any rolling quarterly period since the current series began in 2012.

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