S&P cuts India's growth targets for the next two fiscal years

S&P affirms India's FY25 GDP growth at 6.8%. Growth forecasts for FY26 and FY27 are lowered to 6.7% and 6.8%, respectively. High interest rates and lower fiscal impulse are cited as factors. RBI believes recent economic weakness is temporary. Private consumption and festival spending are driving demand. Food inflation remains a concern, potentially delaying RBI rate cuts.