The Indian economy shows mixed trends through November-December. Industrial output rebounds in November, with stable power demand and renewable contribution exceeding seasonal patterns. Multiple indicators reach peak levels: toll collections, domestic air traffic, tractor registrations, and SIP flows. Enhanced reservoir levels boost rural sentiment, though automobile demand slows after October’s festive surge. While consumer prices moderate in December, tight banking liquidity drives short-term rates upward. Robust portfolio inflows enhance balance of payment surplus in Q2FY25; weaker goods export and rising imports widen trade deficit in December. Dollar strengthening since December impacts currency markets, with the rupee falling 1.7% in a month (as of 15 January), while forex reserves stay above USD 600 billion. Government capex picks up through October-November versus H1, although overall fiscal deficit under budgeted targets