The repo rate is a step series: the changes since 2023 are recorded from the RBI's policy announcements, and the current rate is read from the RBI home page at every build.
The ten-year government security yield, as a monthly average, minus the Reserve Bank of India's policy repo rate. A long yield below the policy rate means markets expect cuts, which has preceded slowdowns in India as elsewhere.
Threshold source: Yield-curve rule with the policy rate as the short end; India publishes no free daily short-tenor yield. How thresholds are chosen
The policy rate moves in steps on meeting days, so the spread jumps rather than drifts. The ten-year series arrives with a two-month lag.