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Crisil Ups FY27 GDP Growth Forecast to 7% on Strong H1 Expectations
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News18•30-09-2026, 20:00
Crisil Ups FY27 GDP Growth Forecast to 7% on Strong H1 Expectations
- •Crisil revised India's FY27 GDP growth estimate to 7% from 6.6%, citing strong growth expectations for the April-September period.
- •Chief economist D K Joshi noted the Q1 GDP growth was 7.8%, contributing to the robust first-half performance.
- •The agency projects crude oil prices to average between USD 87-93 per barrel in FY27, up from USD 70 in FY26, influencing growth projections.
- •Monsoon deficits, currently 12% below long-term averages, could impact the winter crop and overall economic growth.
- •Crisil anticipates the rupee to appreciate to 93.5 against the dollar by March 2027, considering it currently undervalued, and expects two RBI rate hikes of 25 basis points each in October and December.
Key Questions Answered
Crisil raised its FY27 GDP growth estimate for India to 7 per cent from 6.6 per cent, driven by expectations of a strong performance in the first half of the fiscal year.
Crisil expects the undervalued rupee to appreciate to 93.5 against the US dollar by March 2027. Additionally, the agency anticipates two rate hikes of 25 basis points each by the RBI in October and December.
While formulating its growth projections, Crisil assumed that crude oil prices would average between USD 87 and 93 per barrel in FY27, compared to USD 70 in FY26. It also noted that the monsoon is currently 12 per cent below long-term averages, which could impact reservoir levels, soil moisture, and the winter crop.
