The Asian Development Bank (ADB) on Thursday cut India’s GDP growth forecast for FY27 by 30 basis points (bps) to 6.6% from the 6.9% projected in April, citing the impact of rising energy prices on domestic demand, while retaining its FY28 growth estimate at 7.3%. In its July Asian Development Outlook, the multilateral lender said the revised outlook reflects elevated energy prices, which squeeze real incomes, affecting household spending and overall economic activity. “Growth will be supported by policy interventions to attract more foreign capital, as well as fuel tax cuts, targeted credit support, strong services exports, and public capital expenditure,” it said.