# Financial Stress Index for India (India–FSI)
# Authors: Aswini Kumar Mishra, Nishad Kotkar, and Atharva Singh Rathore
# Citation: 'Macro-Financial Shocks and Search Sentiment: A New Financial Stress Index for India', Finance Research Letters (2026).
# Hosted by: Economic Policy Uncertainty (EPU) - https://www.policyuncertainty.com
# Last Updated: 2026-09-23
# Frequency: Monthly
Date,India_FSI
2006-07-01,-38.5404
2006-08-01,-47.3671
2006-09-01,-66.3468
2006-10-01,-39.7506
2006-11-01,-42.6595
2006-12-01,-57.0985
2007-01-01,-43.3493
2007-02-01,-57.042
2007-03-01,-51.0635
2007-04-01,-31.108
2007-05-01,-65.8587
2007-06-01,-41.9106
2007-07-01,-46.0336
2007-08-01,-21.4807
2007-09-01,-31.5236
2007-10-01,-23.0903
2007-11-01,-47.4466
2007-12-01,-60.3251
2008-01-01,-1.2897
2008-02-01,-10.0063
2008-03-01,-5.8295
2008-04-01,-13.6023
2008-05-01,-60.8667
2008-06-01,-0.5048
2008-07-01,23.6707
2008-08-01,-2.8141
2008-09-01,122.6355
2008-10-01,162.8256
2008-11-01,96.4728
2008-12-01,72.0695
2009-01-01,109.3333
2009-02-01,68.8274
2009-03-01,57.3651
2009-04-01,81.5713
2009-05-01,87.4554
2009-06-01,69.1809
2009-07-01,62.2125
2009-08-01,74.8329
2009-09-01,73.449
2009-10-01,55.85
2009-11-01,80.591
2009-12-01,80.8366
2010-01-01,44.5144
2010-02-01,3.3355
2010-03-01,61.8388
2010-04-01,49.4453
2010-05-01,107.2643
2010-06-01,62.3028
2010-07-01,24.6778
2010-08-01,31.1169
2010-09-01,16.5198
2010-10-01,13.5023
2010-11-01,13.3679
2010-12-01,-2.1062
2011-01-01,19.4304
2011-02-01,5.9618
2011-03-01,-19.1677
2011-04-01,11.4652
2011-05-01,12.63
2011-06-01,26.0273
2011-07-01,46.0921
2011-08-01,67.4778
2011-09-01,27.7506
2011-10-01,59.2348
2011-11-01,74.8777
2011-12-01,9.5633
2012-01-01,12.6795
2012-02-01,13.1474
2012-03-01,10.6609
2012-04-01,-11.3884
2012-05-01,-11.3222
2012-06-01,-29.284
2012-07-01,-13.956
2012-08-01,-4.8082
2012-09-01,-22.1786
2012-10-01,-3.4311
2012-11-01,-23.3451
2012-12-01,-16.8891
2013-01-01,-6.5453
2013-02-01,-24.942
2013-03-01,-6.5675
2013-04-01,6.2107
2013-05-01,-10.2872
2013-06-01,-23.3551
2013-07-01,-13.9505
2013-08-01,-47.0928
2013-09-01,-27.7064
2013-10-01,-25.2004
2013-11-01,-34.6588
2013-12-01,-36.1491
2014-01-01,-32.2447
2014-02-01,-22.3041
2014-03-01,-36.7722
2014-04-01,-47.2887
2014-05-01,-46.123
2014-06-01,-27.022
2014-07-01,-32.9883
2014-08-01,-11.1374
2014-09-01,-28.1428
2014-10-01,-25.9574
2014-11-01,-4.6856
2014-12-01,-13.6506
2015-01-01,-22.7121
2015-02-01,-20.219
2015-03-01,-33.0002
2015-04-01,-6.7068
2015-05-01,-21.4131
2015-06-01,-19.7011
2015-07-01,-7.9893
2015-08-01,-15.7086
2015-09-01,1.8267
2015-10-01,-17.3197
2015-11-01,-24.0954
2015-12-01,-15.6833
2016-01-01,6.6893
2016-02-01,32.6548
2016-03-01,3.5312
2016-04-01,-13.4808
2016-05-01,-2.7893
2016-06-01,2.4382
2016-07-01,-21.7403
2016-08-01,-22.9529
2016-09-01,-23.5564
2016-10-01,-26.1618
2016-11-01,-19.8696
2016-12-01,-33.8045
2017-01-01,-43.5326
2017-02-01,-21.8716
2017-03-01,-23.0431
2017-04-01,-16.1364
2017-05-01,-0.7687
2017-06-01,-2.6488
2017-07-01,27.1585
2017-08-01,11.4889
2017-09-01,-19.6302
2017-10-01,-9.4788
2017-11-01,-6.3375
2017-12-01,25.2238
2018-01-01,-5.7511
2018-02-01,76.8409
2018-03-01,10.8328
2018-04-01,11.2268
2018-05-01,-11.7171
2018-06-01,2.151
2018-07-01,-6.6685
2018-08-01,7.3392
2018-09-01,29.8702
2018-10-01,34.4723
2018-11-01,15.7639
2018-12-01,11.1475
2019-01-01,38.7998
2019-02-01,20.3101
2019-03-01,0.0076
2019-04-01,8.6792
2019-05-01,19.739
2019-06-01,6.048
2019-07-01,5.6262
2019-08-01,7.8489
2019-09-01,23.1229
2019-10-01,52.3221
2019-11-01,10.4576
2019-12-01,3.4933
2020-01-01,-2.5362
2020-02-01,-12.0684
2020-03-01,86.3446
2020-04-01,-1.0146
2020-05-01,-9.9696
2020-06-01,-2.1942
2020-07-01,13.6574
2020-08-01,-6.685
2020-09-01,-14.2153
2020-10-01,-2.9233
2020-11-01,3.5665
2020-12-01,-1.0499
2021-01-01,-12.1505
2021-02-01,-5.0184
2021-03-01,5.9235
2021-04-01,-0.0005
2021-05-01,-4.9869
2021-06-01,-16.2124
2021-07-01,-8.0566
2021-08-01,-6.2602
2021-09-01,-7.9337
2021-10-01,-19.8242
2021-11-01,-11.0859
2021-12-01,-12.151
2022-01-01,11.8687
2022-02-01,18.7305
2022-03-01,-23.0403
2022-04-01,-9.5426
2022-05-01,9.7807
2022-06-01,12.2436
2022-07-01,-19.0657
2022-08-01,-14.616
2022-09-01,-26.766
2022-10-01,-25.2206
2022-11-01,-26.8051
2022-12-01,-17.2491
2023-01-01,-31.8861
2023-02-01,-41.1903
2023-03-01,-11.0757
2023-04-01,-36.8485
2023-05-01,-21.9512
2023-06-01,-36.2251
2023-07-01,-22.0812
2023-08-01,-27.239
2023-09-01,-18.0116
2023-10-01,-30.114
2023-11-01,-57.3754
2023-12-01,-32.1618
2024-01-01,-43.672
2024-02-01,-26.2211
2024-03-01,-32.6229
2024-04-01,-20.0891
2024-05-01,-30.9703
2024-06-01,-8.5037
2024-07-01,11.4205
2024-08-01,25.5826
2024-09-01,-9.2634
2024-10-01,1.2652
2024-11-01,-19.6233
2024-12-01,-8.2696
2025-01-01,-10.1916
2025-02-01,-10.383
2025-03-01,-21.5758
2025-04-01,-9.3929
2025-05-01,-29.7694
2025-06-01,-17.5773
2025-07-01,1.8812
2025-08-01,1.4052
2025-09-01,-19.5927
2025-10-01,-1.0631
2025-11-01,26.8545
2025-12-01,17.8095
2026-01-01,25.1149
2026-02-01,28.8759
2026-03-01,36.7799
2026-04-01,33.6175
2026-05-01,50.3322
2026-06-01,45.0808