New Delhi, March 27 -- Elevated global energy prices amid geopolitical developments in West Asia could exert pressure on India's fiscal position in FY27, though available buffers are likely to help manage the impact, according to a report by ICRA.

The report noted that "elevated global crude oil and natural gas prices amid ongoing developments in West Asia may influence the Government of India's fiscal position for FY2026-27."

It highlighted that recent increases in energy prices, driven by geopolitical factors, have introduced volatility in global markets and may necessitate fiscal recalibration. "Even if the situation stabilises, energy prices are expected to remain higher than earlier budgeted assumptions, which may require fiscal ad...