Economy, Banking and Finance · 21 August 2026

ICRA Projects India's GDP Growth at 7% in April–June Quarter of FY27

Exam-focused facts from the 21 August 2026 current affairs briefing.

Key facts

  • ICRA estimated India's GDP growth at 7% in the April–June quarter of FY27, a four-quarter low, down from 7.8% in the March quarter of FY26.
  • ICRA projected the industrial sector to grow at 7.7%, agriculture at 4%, and services at 7.9% in the June quarter of FY27.
  • For full FY27, ICRA projected India's real GDP growth to moderate to 6.7% from 7.7% in FY26.
  • ICRA projected nominal GDP growth to accelerate to a four-year high of 13% in FY27 from 8.9% in FY26.
  • ICRA Chief Economist Aditi Nayar noted that high-frequency indicators showed healthy domestic volume growth in Q1 FY27.
  • ICRA's FY27 GDP projection assumes an average crude oil price of USD 80-85 per barrel.

View this story in the full daily briefing

Earlier coverage selected by topic similarity to help connect developments over time.

State Bank of India (SBI) projects Q1 GDP growth at 8%

State Bank of India (SBI) research projects India's GDP growth at 8% for the April-June quarter of FY27. The SBI projection is sharply higher than the Reserve Bank of India's (RBI) forecast of 7% for the same quarter.