Prime Minister Narendra Modi's recent address, which emphasized conserving foreign exchange reserves by limiting gold imports, fuel consumption, and international travel, has caused turmoil in the Indian stock market, leading to panic selling. The ongoing US-Iran conflict has kept crude oil prices elevated, affecting India's import costs and external balances. Analysts note that while concerns about inflation are rising, it is premature to expect a repo rate hike by the Reserve Bank of India (RBI) in the upcoming Monetary Policy Committee (MPC) meeting. Nikunj Saraf, CEO of Choice Wealth, highlighted that the government's focus on economic stability and prudent forex management suggests a cautious approach rather than an aggressive monetary stance. Similarly, Sunny Agrawal from SBI Securities echoed that the current developments are unlikely to prompt an immediate rate increase, as inflation remains manageable despite global commodity price pressures. Overall, the consensus is that the RBI will prioritize economic stability over aggressive rate hikes, with the next MPC meeting likely to maintain a status quo.