High-frequency indicators of overall economic activity remained robust in October

Reserve Bank of India (RBI) has stated that high-frequency indicators of overall economic activity remained robust in October, supported by Goods and Services Tax (GST) rate reductions and a pickup in festive spending. Despite a reduction in rates, GST collections registered a positive growth, albeit at a slower pace than the previous month. Digital payments registered a moderation in growth, in both volume and value, during October 2025. Electricity demand declined due to unseasonal rainfall and the early onset of the winter season. Fuel demand presented a mixed picture, with petrol consumption rising due to increased mobility and travel during the festive season, while diesel consumption showed a marginal decline. During October, overall demand conditions showed signs of improvement and rural demand steered overall demand.

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