US, Nov. 12 -- Moody's Ratings has raised its growth forecast for the Indian economy to 7 per cent from 6.5 per cent earlier, for the financial year 2026-27 on the back of "India's broad-based economic momentum and demonstrated resilience to the energy supply shock".

In its Global Macro Outlook 2027-28, Moody's said that India had adjusted to higher energy prices better than previously anticipated, supported by its ability to diversify crude oil and natural gas supplies and limit the immediate impact on consumers. State-backed oil marketing companies and tax cuts have helped cushion households and businesses from the energy price shock.

The revised outlook comes after India's economy expanded 7.8 per cent year-on-year in the April-June...