ADB cuts India FY27 growth forecast to 6.6% on higher oil prices

The Asian Development Bank has lowered India’s FY27 growth forecast to 6.6 percent. Higher crude oil prices and transportation costs will impact consumer sentiment and demand. The bank retained its FY28 growth forecast at 7.3 percent, expecting global conditions to improve. Inflation forecast for FY27 is raised to 5.2 percent due to oil and food prices. Policy measures and public capital expenditure will support India’s economic momentum.

Source: Read Full Article