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S&P Global Ratings has lowered its forecast for India's economic growth for the next two financial years. The reason for this is the decline in urban demand due to high interest rates. Gross domestic product (GDP) growth is estimated at 6.7 percent and 6.8 percent in the next fiscal 2026-27.
New Delhi. Credit rating agency S&P Global Ratings has lowered its forecast for India's economic growth for the next two financial years. The reason for this is the decline in urban demand due to high interest rates. Updating its economic forecast for Asia-Pacific economies following the US election results, the rating agency projected gross domestic product (GDP) growth at 6.7 per cent in fiscal 2025-26 (April 2025 to March 2026) and 6.7 per cent in the next fiscal 2026-2026. It is estimated to be 6.8 percent in 27. This is lower than previous estimates of 6.9 percent and seven percent respectively.
S&P has estimated the GDP growth rate to be 6.8 percent in the current financial year 2024-25. The rating agency expects the GDP growth rate to be seven percent in the financial year 2027-28. S&P maintained China's growth forecast of 4.8 percent in 2024, but cut its forecast for next year to 4.1 percent from 4.3 percent previously and cut its previous forecast for 2026 to 3.8 percent from 4.5 percent. Louis Kooij, chief economist (Asia-Pacific) at S&P Global Ratings, said rising risks are clouding the economic outlook for Asia-Pacific in the first quarter of 2025.
Disclaimer: Prabhasakshi has not edited this news. This news has been published from PTI-language feed.
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