EconomySaturday, 23 May 2026·The Hindu
ICRA cuts India’s FY27 GDP growth forecast to 6.2%
ICRA lowered India’s FY27 GDP growth forecast to 6.2% on 19 May 2026, citing West Asia crisis and supply stickiness.
Key highlights
Direct fact
On 19 May 2026, ICRA revised India’s FY27 GDP growth forecast downward to 6.2%, from its earlier estimate of 6.5%.
Key specifics
- ICRA estimated FY26 growth at 7.5%, slightly below the NSO estimate of 7.6%.
- Average crude oil prices for FY27 were projected at $95 per barrel, up from $85 per barrel.
- Q3 FY26 growth was recorded at 7.8%.
- Merchandise exports contracted by 2.8% year-on-year in the March quarter of FY26.
- ICRA is headquartered in Gurugram, Haryana, and the NSO functions under MoSPI.
Exam lens
Economy and rating-agency question, ICRA, FY27, 19 May 2026, 6.2%, NSO 7.6%, crude oil $95/bbl — TNPSC may ask the revised forecast and the institutions involved.