Free Demo Request

Budget shows commitment to keep fiscal deficit low: S&P

Date 02-March-2015
Subject Budget shows commitment to keep fiscal deficit low: S&P

India's budget for 2015/16 highlighted the government's commitment to keeping the fiscal deficit low, ratings agency Standard and Poor's said, adding that the country's debt burden and subsidy bill could constrain its ratings.

"India's 2015-2016 budget highlights the government's commitment to keeping the fiscal deficit low despite lower-than-expected revenue growth," S&P said in a statement on Monday.

"This commitment moderates the drag on sovereign credit support posed by the relatively heavy general government debt burden in India," it added. "Nevertheless, the debt burden and large budgetary subsidies could constrain the speed of improvements in India's credit metrics."

Finance Minister Arun Jaitley on Saturday announced a budget that put boosting growth before painful reforms, slowing the pace of fiscal deficit cuts and seeking to put domestic and foreign capital to work.

S&P currently rates India at "BBB-minus", its lowest investment grade rating, with a "Stable" outlook.

Source : thehindu.com

High-volume of Loyal
and Trusted Customers!

We feel pride in offering our customers the wide range of products of the top leading brands of the world.

BCG Binani
Godrej
Induslnd Bank
Indian Oil
ITC Limited
Jindal Steel Power
Milton
Paharpur
Philips
Reliance
TATA Chemicals Limited
The Times of India
Wipro
Yamaha
Dalmia Bharat Cement
JCB
Pernod Ricard