'Oil, weak monsoon biggest risks to India's growth'
The International Monetary Fund (IMF) warned that India's GDP growth for 2026/27 is at risk due to rising oil prices linked to escalating Middle East conflicts and a potential weak monsoon caused by El Niño. The IMF reduced its growth forecast for India by 10 basis points to 6.4%, while slightly increasing the 2027/28 forecast to 6.7%. The IMF plans to reassess India's national accounts later this year following the release of updated GDP data.