UPSC Economy current affairs: budget, RBI policies, inflation, fiscal policy, banking and financial sector updates.
Part of: UPSC Current Affairs 2026 Hub
In March 2026 India’s headline inflation, measured by the CPI, rose to 3.4% with food prices climbing to 3.87%. The MoSPI introduced a new CPI series based on a 2024 base year, expanding the basket to 358 items, while the WPI retains a 2011‑12 base. The Index of Eight Core Industries (ICI) posted a 2.3% rise, underscoring its importance for UPSC questions on inflation, monetary policy and sectoral performance.
On 15 April 2026, three Iranian oil tankers carrying about five million barrels of crude became the first sanctioned vessels to pass the Strait of Hormuz since the U.S. blockade began. The movement, reported by Kpler, underscores the geopolitical importance of Gulf oil routes, the impact of U.S. sanctions, and the need for India to manage energy security amid shifting regional dynamics.