Crisil expects India’s GDP growth to remain steady at 6.5%

New Delhi, Sep 29: Global rating agency Crisil on Monday projected India’s gross domestic product (GDP) to grow 6.5 per cent this fiscal, amid rising private consumption and tax reforms.

Rising private consumption should support industrial production.

“So far, a copious monsoon, robust kharif sowing and benign inflation have supported the rural economy. The impact of excess rains on agriculture output will be monitorable. The urban economy will get a leg-up from lower lending rates, income tax relief and the rationalisation of the goods and services tax (GST),” said Crisil.

Repo rate cuts by the Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI), will help lower interest rates in the economy.

The 100 basis points (bps) of cuts made in calendar year 2025 have already softened bank lending rates, but transmission is still ongoing.