India is expected to post strong economic growth in the coming quarters, even as inflation, led by food prices, is likely to remain elevated, S&P Global Ratings said on Wednesday.

The economy is expected to clock 9.5 per cent growth in the current fiscal, followed by 7 per cent expansion in the next year, it said, adding high nominal GDP growth was key to ensure fiscal consolidation.

“Given India’s weak fiscal settings and high stock of debt around 90 per cent of GDP, the nominal GDP growth is going to be important to prevent further erosion of fiscal settings in the country,” S&P global ratings director (sovereign) Andrew Wood said.