# Crisil sees 6.6% growth, SBI projects 8% in first quarter

2026-08-14T21:44:13+00:00 | Governance | Indian Opinion Desk

Corroboration: 2 independent outlets

Crisil expects India’s GDP growth to slow to 6.6% this fiscal, from 7.7% last fiscal, leaving the Reserve Bank of India flexibility on policy rates at its next Monetary Policy Committee meeting. Its report said financial conditions improved in July as net foreign portfolio inflows rose to $4.2 billion from $0.5 billion in June. Liquidity surplus widened, bank credit growth stayed strong at 17.7%, and the 10-year bond yield fell to 6.77%. The rupee weakened to an average of Rs 95.8 against the US dollar. SBI’s economic research department offered a stronger outlook, with its Nowcasting model projecting 8% real GDP growth in the first quarter of FY27. It cited credit growth of 19.3%, deposit growth of 15.4%, improving monsoon conditions and $52.3 billion mobilised through FCNR(B) deposits by August 13. The two reports therefore present sharply different growth expectations.

## Coverage

- economictimes.indiatimes.com <https://economictimes.indiatimes.com/news/economy/indicators/rbi-may-stay-nimble-on-rates-as-growth-is-seen-slowing-to-6-6-report/articleshow/133248659.cms>
- thehindubusinessline.com <https://www.thehindubusinessline.com/economy/indiawasisandwill-be-one-of-the-fastest-growing-economies-in-the-world-sbi/article71348661.ece>

Tags: Crisil, FPI, MPC, RBI, rupee, West Asia
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