ICRA trims India's FY27 GDP to 6.2% citing $95 crude
ICRA has trimmed its GDP growth estimate for India in FY27 to 6.2%, down from 6.5%, mainly because global oil prices are expected to stay high thanks to the ongoing West Asia crisis.
The agency now thinks crude will average $95 a barrel in FY27, up from its earlier guess of $85.
For FY26, growth is pegged at 7.5%, just below the government's official figure.
ICRA: India Q4 FY26 growth 7%
GDP growth is set to dip in the fourth quarter of FY26, dropping to 7% from 7.8% last quarter, as industries and services lose momentum and exports shrink by nearly 3%.
Still, ICRA says government spending on infrastructure and steady private consumption should help keep the economy moving forward, especially as inflation cools and people start feeling more confident about spending again.