Asia's third-largest economy imports almost 80% of its oil needs, making it vulnerable to energy shocks that could hurt ​growth and stoke inflation. The Fund cut India's GDP growth forecast for 2026/27 by 10 basis points to 6.4% this month, while raising its 2027/28 forecast by 20 basis points to 6.7%. However, this month's IMF projections did not fully reflect the impact of a weak monsoon, ​Salgado said. IMF TO REASSESS INDIA'S NATIONAL ACCOUNTSSalgado said the IMF would reassess the quality of India's national accounts this year after the statistics department releases the back series based on the revised 2022/23 GDP base year, expected towards the end of 2026. India's national accounts statistics ​received the IMF's second-lowest 'C' rating last November, on grounds of methodological weaknesses.