India’s growth outlook for FY27 faces “considerable downside risk” due to the ongoing West Asia crisis, Chief Economic Advisor V Anantha Nageswaran has cautioned. He also called for a re-prioritisation of government spending and targeted relief for vulnerable sectors in light of the ongoing war in the Gulf. In the preface to the Monthly Economic Review (MER) prepared by the Department of Economic Affairs, Nageswaran said that while India’s GDP growth projection for FY27 was recently revised upward to 7-7.4% following the base year update, the evolving geopolitical situation could significantly weigh on the outlook.