New Delhi, Sep 1
Despite downside risks owing to the US tariffs and slowing global economy, India’s growth will remain healthy given expectations of robust domestic private consumption, along with supportive government spending, a report showed on Monday.
In Crisil’s view, private consumption is poised to be the primary driver of GDP growth in fiscal 2026. It expects GDP to grow 6.5 per cent this fiscal with downside risks.
The report believes four key factors will support private consumption in India.
“A healthy monsoon will support the agriculture sector and rural incomes. Monsoon has progressed well so far, at 106 per cent of the long period average as on August 28. Kharif sowing is up 3.4% on-year as on August 22,” said the Crisil report.