Rating agency ICRA has lowered India’s GDP growth forecast for FY27 to 6.2 per cent from its earlier estimate of 6.5 per cent, citing elevated crude oil prices triggered by the ongoing West Asia crisis.

For FY26, ICRA has projected GDP growth at 7.5 per cent, slightly lower than the National Statistical Office’s (NSO) Second Advance Estimate (SAE) of 7.6 per cent for the financial year.