Current Affairs - Economy - Discussion

Fitch Ratings revised India's GDP growth forecast for FY27 to 6.4%, down from its earlier estimate of 6.7%. The revision was attributed to factors such as geopolitical tensions and rising global energy costs, which could affect economic activity and investment. Fitch also projected that growth would improve to 6.7% in FY28 as energy-related pressures ease before stabilising at 6.4% in FY29. Despite the downgrade, India is expected to remain one of the fastest-growing major economies. The report also highlighted higher crude oil price estimates, inflation concerns, and expectations of a policy rate increase by the Reserve Bank of India.