Economy, Banking and Finance · 28 March 2026
S&P Global Ratings (S&P) raises India GDP growth forecast to 7.1% for FY27
Exam-focused facts from the 28 March 2026 current affairs briefing.
Key facts
- S&P Global Ratings (S&P) revised India’s GDP growth forecast upward by 40 basis points to 7.1% for FY27.
- India recorded 7.8% GDP growth in the October–December quarter.
- S&P’s FY26 projection for India stands at 7.6%.
- S&P assumes Brent crude at $80 per barrel in 2026, up from about $65 per barrel at end-2025.
- In a downside scenario, S&P warns crude could spike to $200 per barrel if Middle East conflict escalates.
- A moderate stress scenario of $130 per barrel could shave 50–70 basis points off Asia-Pacific growth.
- S&P cites India’s technology services, data centre infrastructure, and AI-linked investments as key growth drivers.