India's GDP Projected to Grow 6.8-7.2% in FY27 Amid Tax Reforms, EY Report Says

India's GDP is projected to grow between 6.8% and 7.2% in fiscal year 2027, supported by expanding bilateral trade agreements and recent tax reforms, according to the EY Economy Watch report. The government has implemented significant personal income tax and GST changes, resulting in revenue foregone to boost household incomes and private consumption. Despite expected shortfalls in gross tax revenues for FY26, fiscal deficit targets are anticipated to be maintained. Achieving the Viksit Bharat 2047 vision may require improved tax compliance rather than new structural reforms.