New Delhi, July 10 -- The Asian Development Bank (ADB) has lowered India's GDP growth forecast for FY27 to 6.6 percent from the 6.9 percent projected in April, citing higher oil and transportation costs that are expected to weigh on consumer spending and private demand.

ADB Cuts India's FY27 Growth Forecast

Despite the downward revision, the ADB's forecast remains above the International Monetary Fund's (IMF) latest estimate of 6.4 percent for the fiscal year.

In its July edition of the Asian Development Outlook, the ADB said elevated energy prices are reducing household purchasing power and dampening private consumption. It also flagged geopolitical tensions and weather-related risks to agriculture as key downside risks to the growth ...