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The ratings agency has also projected 7% GDP growth for India in FY27 and said it expects a moderate tightening in monetary policy. "Pockets of stress are likely to emerge in unsecured segments, particularly among self-employed borrowers and micro and small enterprises, with potential spillovers into commercial vehicle loans and affordable housing," said Nikita Anand, director, financial institutions ratings. Also read: Weakest monsoon since 2015 prompts ICRA to cut FY27 farm growth forecast She said weak monsoons would weigh more on microfinance and financial companies focusing on rural areas, pressuring credit costs and profitability. According to Anand, about a fourth of India's bank loans come from rural segments, and weather anomalies could impact banks' rural business. She said overall public investment remains steady while private investment momentum has improved, concentrated in specific sectors such as data centres and semiconductors. Domestic demand has shown resilience despite headwinds from the West Asia conflict, even as energy and food inflation are eating into household budgets. Crisil has projected 5.1% inflation for FY27. "Economic activity is strong, but headwinds may slow momentum," senior economist Vishut Rana said. (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
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