S&P Global Cuts India FY27 GDP Growth Forecast to 6.6%
Why in the news
S&P Global and CRISIL trimmed their FY27 growth outlook for India, pointing to knock-on effects of the West Asia conflict.
Key facts
| Item | Detail |
|---|---|
| Agencies | S&P Global and CRISIL |
| Earlier FY27 GDP forecast | 7.1% |
| Revised FY27 GDP forecast | 6.6% |
| Reason for cut | Trade and energy supply chains upset by the West Asia conflict |
- Other projections: faster inflation, a wider current account deficit and a rising debt-to-GDP ratio.
- Bright spot: the services sector is expected to remain a key growth driver.
Exam angle
- Revised FY27 growth forecast: 6.6%, down from 7.1%.
- Agencies: S&P Global with CRISIL.
- Cause: West Asia conflict hitting trade and energy supply chains.