India plans to widen fiscal deficit to nearly 5% of GDP as energy costs surge

India plans to widen fiscal deficit to 4.8% of GDP as Iran war drives fuel costs higher

India widens fiscal deficit to 4.8% of GDP from 4.3% target due to Iran fuel costs—first miss since pandemic. Weakened rupee and potential sovereign downgrade will raise Indian outsourcing costs and threaten the nation's major crypto investor base.