Current Affairs - Economy - Discussion

S&P Global revised India’s FY27 GDP growth forecast to 6.6% due to a major energy supply disruption originating in West Asia. The downgrade reflected concerns over rising crude oil prices, increased freight costs, and global economic uncertainty. Earlier projections estimated growth at 7.1%, while the economy had previously expanded by 7.6%. The report also highlighted rising inflation, weakening of the Indian rupee, and widening current account deficits caused by increased import dependence on crude oil and gas. To address the economic challenges, the government introduced stabilisation measures such as a ₹1 lakh crore oil hedging fund and maintenance of strategic petroleum reserves.