New Delhi, June 19 -- Oil is likely to average around $70-80 a barrel in FY26, and a sustained rise from the current levels risks a reduction in India's growth forecasts, according to Icra Ratings Ltd.

"If crude oil prices persist at the current levels, it may not lead to a material revision in our GDP growth forecast, which is currently pegged at 6.2% for FY2026," the rating firm said on Friday. "However, a sustained increase from the current levels would weigh on India Inc.'s profitability and portend a downward revision in our GDP growth forecast for the fiscal."

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