S&P Global Ratings (S&P) raises India’s FY27 GDP growth forecast to 7.1%

Exam-focused facts from the 26 March 2026 current affairs briefing.

Key facts

S&P Global Ratings (S&P) upgraded India’s FY27 GDP growth forecast by 40 basis points to 7.1%.
The revision follows India’s 7.8% GDP growth in the October–December quarter.
S&P’s FY26 projection for India remains at 7.6%.
S&P assumes Brent crude at $80 per barrel in 2026, up from about $65 at end-2025.
In a stress scenario, S&P sees oil at $130 per barrel; in a severe disruption, up to $200 per barrel.
A $130 oil price could cut 50–70 basis points from Asia-Pacific growth.
India’s growth drivers are domestic consumption, public-private investment, and technology services.
S&P identifies the Strait of Hormuz—handling 15–20% of global oil flows—as a key energy chokepoint.