India, April 30 -- India's GDP growth may slip to around 6 per cent and retail inflation could rise to RBI's upper tolerance band of 6 per cent in the current fiscal, if the Indian crude basket price averages $120 a barrel, EY India said on Wednesday.

EY India Chief Policy Advisor DK Srivastava said, although room for policy interventions is limited, policymakers need to consider upward revision in the repo rate and accelerated diversification of sources of crude supply as the price of the Indian crude basket (ICB) may rise further if the West Asian crisis persists.

"If the ICB price averages $120 per barrel in FY27, India's real GDP growth may slip to about 6 per cent and CPI inflation may increase to 6 per cent... To minimise the adve...