India's growth to slow to 6.8% in FY27 amid West Asia crisis, El Nino risks
India Ratings & Research on Tuesday projected India's GDP growth to slow down to 6.8 per cent in the current fiscal year, as against 7.6 per cent in the previous year, citing risks from fuel and food inflation stemming from West Asia conflict's uncertainty, weak currency, and the likely impact of El Nino on agriculture.
The FY27 GDP growth projection at 6.8 per cent is a tad higher than the 6.7 per cent growth Ind-Ra had projected in May.
Earlier this month, the Reserve Bank of India (RBI) had raised growth projections from 6.6 per cent to 6.7 per cent citing resilient domestic economy.
The domestic rating agency said it now estimates average crude oil price at USD 85/bbl in FY27 compared to USD 95/bbl in May 2026.
It expects rupee-dollar exchange rate to average Rs 93.98 (May 2026: Rs 94.28), a depreciation of 6.4 per cent YoY, in FY27.
Fitch Group subsidiary Ind-Ra estimates capital flows of USD 70 billion under foreign currency non-resident (bank) (FCNR B) and external ...
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