India’s economic growth is likely to slow sharply in the current fiscal year as the lingering effects of last year’s tax cuts begin to fade and soaring crude oil prices linked to the Iran conflict squeeze consumption, investment and inflation, BMI said on Monday. The Fitch Group firm projected India’s GDP growth at 6.7% for FY2026-27, down from an estimated 7.7% expansion in FY2025-26, warning that the economy faces mounting pressure from weakening momentum and an oil shock triggered by the war in West Asia.