India's fiscal consolidation likely to become challenging with coalition government: Fitch
9 months, 1 week ago

India's fiscal consolidation likely to become challenging with coalition government: Fitch

Hindustan Times  

India's medium-term fiscal consolidation is likely to get more challenging as a new coalition government comes to power, an analyst at credit rating agency Fitch, said on Friday, according to a Reuters report. "Our expectation is that the government will look to achieve the 4.5% fiscal deficit target by 2025-26," Jeremy Zook, director of Asia-Pacific sovereigns at Fitch told Reuters in an interview. The Indian central bank's record surplus transfer will help the government in achieving its fiscal glide path, but "the coalition government could make pursuing more medium-term fiscal consolidation slightly more challenging", Zook told Reuters. Fitch would like to see durable fiscal consolidation underpinned by revenue-raising measures that can bring down the debt-to-GDP ratio more firmly over the medium-term, according to the Reuters report.

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History of this topic

Fiscal consolidation to slow as budget relies on tax measures to support economy: Moodys
Trending News
1 month, 1 week ago

Fiscal consolidation to slow as budget relies on tax measures to support economy: Moodys

Deccan Chronicle  

Mumbai: Moody’s Ratings on Tuesday said that the income tax cuts announced in the Union Budget 2025 will boost middle-class spending and benefit corporates and the financial sector but warned that the lost revenue could slow fiscal consolidation despite a decline in spending as a share of GDP. Although the government has estimated consequent foregone revenue at around Rs 1 …

Fitch backs India’s fiscal path, Moody’s warns tax cuts may slow consolidation
1 month, 1 week ago

Fitch backs India’s fiscal path, Moody’s warns tax cuts may slow consolidation

Live Mint  

New Delhi: Rating agency Fitch on Tuesday said the recent budget reflects the government's commitment to gradual yet steady fiscal consolidation, and that the Centre's clarification on medium-term debt reduction targets, if followed through, could strengthen India's credit profile over time. Separately, Moody’s said income tax cuts will boost middle-class spending and benefit corporates and the financial sector but warned …

Fitch says Budget is neutral for growth
1 month, 1 week ago

Fitch says Budget is neutral for growth

The Hindu  

India’s 2025-26 Budget will be “broadly neutral” for growth prospects, and while its projections “appear realistic”, revenues could see some modest slippages amid the moderation in growth, warranting further restraint on expenditure, Fitch Ratings said on Monday. “Still, the pace of debt reduction is gradual, which leaves open downside risks from a large economic shock,” cautioned Jeremy Zook, director and …

Fitch rules out rating upgrade, but says fiscal targets realistic
1 month, 2 weeks ago

Fitch rules out rating upgrade, but says fiscal targets realistic

New Indian Express  

Mumbai: International rating agency Fitch has said the fiscal numbers – 4.8% fiscal deficit for this fiscal and 4.4% for the next-- proposed in the Budget 2025 looks realistic and achievable. On the rating impact of the Budget, he said; “Sustained deficit reduction, meeting of fiscal targets and continued adherence to transparency further bolsters India’s improving fiscal credibility, as we …

Budget 2025: India set to achieve fiscal deficit target of 4.5% by 2026, says BofA
1 month, 2 weeks ago

Budget 2025: India set to achieve fiscal deficit target of 4.5% by 2026, says BofA

Live Mint  

Budget 2025 Expectations: India is poised to meet its medium-term target of a 4.5 per cent fiscal deficit to GDP by 2026, which it had set in 2021, according to Bank of America. While economic expansion has remained a priority, the fiscal deficit has steadily declined from the pandemic-induced highs, progressively stabilising toward the 4.5 per cent target. For FY25, …

Budget 2025-26: Will Nirmala Sitharaman deliver a fiscal bazooka?
1 month, 2 weeks ago

Budget 2025-26: Will Nirmala Sitharaman deliver a fiscal bazooka?

Live Mint  

Chennai: As finance minister Nirmala Sitharaman dots the I’s and crosses the t’s of her speech she will deliver on 1 February, when she presents a record eighth consecutive budget, her biggest concern will be whether the proposals can dispel the clouds hanging over India, the world’s fastest-growing large economy. The central government’s fiscal deficit as a share of GDP …

Budget 2025: India’s fiscal consolidation is well on track despite hurdles
1 month, 2 weeks ago

Budget 2025: India’s fiscal consolidation is well on track despite hurdles

Live Mint  

As is usually the case, India’s Union budget for 2025-26, to be announced on 1 February, is expected to attract a lot of attention from different stakeholders in the economy, particularly with its growth momentum having sprung a significant downside surprise in 2024-25. Indeed, both the interim budget in February and the post-election budget in July exceeded expectations on the …

From Fragile Five to First Five: India's journey of fiscal consolidation
1 month, 3 weeks ago

From Fragile Five to First Five: India's journey of fiscal consolidation

Live Mint  

Fiscal discipline is a cornerstone of economic stability for any country, and India is no exception. In an era of escalating geopolitical uncertainties and changing trade dynamics, maintaining fiscal discipline has become increasingly critical to shield economies from external shocks and ensure confidence among global investors. India realized the importance of a controlled fiscal deficit when India was declared as …

Capital markets to watch budget balance between fiscal deficit and spending
Trending News
1 month, 3 weeks ago

Capital markets to watch budget balance between fiscal deficit and spending

Live Mint  

India’s market participants will watch the upcoming Union Budget for 2025-26 for proposals to boost consumption while continuing on the patch of fiscal consolidation as the economy grapples with a slowdown. The expectations from finance minister Nirmala Sitharaman’s eight budget are centered around potential reforms and fiscal measures that could boost various sectors and maintain India's growth momentum, said Dhiraj …

Does India’s fiscal profile need a facelift?
1 month, 3 weeks ago

Does India’s fiscal profile need a facelift?

Live Mint  

Policymaking is all about trade-offs. To be sure, this clearly has been the Centre’s strategy post covid, with FY25 central capex budgeted to be rising by almost 1.7 percentage points of GDP since FY20 at 3.4%. The Centre’s revenue stream will likely be lower next year amid tax buoyancy falling to 0.9-1.0x from 1.1x/1.4x in FY25E/FY24 as the economy enters …

‘India, China growth to soften in 2025’
Trending News
2 months ago

‘India, China growth to soften in 2025’

The Hindu  

India and China will see softer growth in 2025, relative to their economies’ 2024 performance, with the U.S. trade policy posing material risks for the Asia Pacific region even though India and some Southeast Asian economies could see some gains from strains in U.S-China economic ties, Moody’s Ratings said on Wednesday. India’s fiscal conditions will continue to constrain its credit …

Moody’s: India Faces Fiscal Constraints in 2025
2 months ago

Moody’s: India Faces Fiscal Constraints in 2025

Deccan Chronicle  

New Delhi: With the trade restrictions by the US, global rating agency Moody's Ratings on Wednesday expects a gradual fiscal consolidation, but India’s conditions on the fiscal front will continue to constrain its credit strength in 2025. As per its report on Asia Pacific Sovereigns, Moody’s Ratings also said that growth and inflation are levelling out, with strong domestic demand …

Budget 2025: From fiscal deficit to spending priorities, what to expect from Finance Minister Nirmala Sitharaman
Top News
2 months ago

Budget 2025: From fiscal deficit to spending priorities, what to expect from Finance Minister Nirmala Sitharaman

Live Mint  

Budget 2025: Finance Minister Nirmala Sitharaman is scheduled to present the Union Budget for FY26 on February 1, 2025. FY25 Fiscal Deficit Target Goldman Sachs expects the government to meet the fiscal deficit target of 4.9% of GDP in FY25, led by receipts upwards of 0.2% of GDP and lower-than-budgeted capex, despite lower nominal GDP growth. Fiscal Consolidation in FY26 …

India’s fiscal deficit for FY26 expected at 4.4%-4.6% of GDP: Goldman Sachs
2 months ago

India’s fiscal deficit for FY26 expected at 4.4%-4.6% of GDP: Goldman Sachs

Live Mint  

New Delhi: India's fiscal deficit could come in at 4.4% to 4.6% of GDP in FY26, Goldman Sachs Economics Research said in a report on Monday. The central government's “fiscal impulse will remain a drag on growth in the next fiscal year”, said the report titled ‘Asia in Focus—Union Budget Preview: Policy Choices in a Cyclical Growth Slowdown’. "We continue …

Fiscal consolidation set on cruise control
Trending News
2 months ago

Fiscal consolidation set on cruise control

Live Mint  

India may record a fiscal deficit for FY25 at 4.7-4.8% of GDP, below the budgeted estimate of 4.9%, marking yet another step towards fiscal consolidation. "On the revenue front, the Centre is likely to exceed budgeted targets for direct tax collections, which, along with the record RBI dividend, will further help in fiscal consolidation," the second person added. To be …

Indian states must set glide path for fiscal consolidation, says central bank report
2 months, 3 weeks ago

Indian states must set glide path for fiscal consolidation, says central bank report

Live Mint  

MUMBAI, Dec 19 - Indian state governments must have clear and time-bound glide paths for fiscal consolidation with transparent and uniform reporting of liabilities, given the elevated debt levels, the Reserve Bank of India said in a report on Thursday. Following the strategy outlined in the federal budget 2024-25, states with elevated debt levels should establish a path for debt …

It’s time for government to loosen fiscal belt, spur the economy
3 months, 1 week ago

It’s time for government to loosen fiscal belt, spur the economy

New Indian Express  

The voices that support growth over fiscal and monetary prudence are getting louder, especially after the second quarter GDP numbers highlighted the fatigue that has set in in the economy. The next Union budget presents an opportunity to put out some bold measures—including a less aggressive fiscal consolidation roadmap and even tax sops, if needed, to send up a few …

Economists ask Finance Minister to focus on growth rather than fiscal consolidation
3 months, 1 week ago

Economists ask Finance Minister to focus on growth rather than fiscal consolidation

New Indian Express  

NEW DELHI: With the second quarter GDP growth falling to a 7-quarter low of 5.4%, economists have asked the government to shift its policy focus to growth rather than fiscal consolidation. In a pre-budget meeting with finance minister Nirmala Sitharaman on Friday, a delegation of economists suggested the government readdress the pace of fiscal consolidation and take measures to boost …

Moody's Raises India's GDP Growth Forecast to 7.2% Vs 6.8% Earlier, Fitch Affirms Rating
6 months, 2 weeks ago

Moody's Raises India's GDP Growth Forecast to 7.2% Vs 6.8% Earlier, Fitch Affirms Rating

News 18  

Moody’s raised India’s growth projection for 2024 and 2025 citing signs of improving rural demand, while Fitch affirmed the country’s sovereign credit rating, the agencies said in separate releases on Thursday. “These forecast changes assume strong broad-based growth and we recognize potentially higher forecasts if the cyclical momentum, especially for private consumption, gains more traction,” Moody’s said. “Nevertheless, 6%-7% growth …

Could ‘two-factor authentication’ in India's fiscal policy be a masterstroke?
6 months, 3 weeks ago

Could ‘two-factor authentication’ in India's fiscal policy be a masterstroke?

Live Mint  

Limiting the union government's fiscal deficit to 3% of GDP has been the holy grail of India’s fiscal policy since the Fiscal Responsibility and Budget Management Act came into effect in 2004. That’s because the two measures are closely related: the fiscal deficit represents the flow of borrowing in a year, which adds to the existing stock of accumulated debt. …

Govt. on track to reduce fiscal deficit: Fitch
7 months, 2 weeks ago

Govt. on track to reduce fiscal deficit: Fitch

The Hindu  

Fitch Ratings on Friday exuded confidence that the Government of India should be able to achieve its enhanced goal of reducing the fiscal deficit to 4.9% of GDP this year, and further below 4.5% of GDP next year, but noted that the post-election Budget did not provide much clarity on medium-term targets. While the Budget did highlight “a desire to …

Budget 2024 addresses India's immediate and long-term needs, says Tata Capital CEO
7 months, 3 weeks ago

Budget 2024 addresses India's immediate and long-term needs, says Tata Capital CEO

Live Mint  

Finance minister Nirmala Sitharaman presented another balanced budget on Tuesday, one that addressed both the immediate and long-term needs of the country. Higher tax collections – gross tax collections rose 19.5% year-on-year – have give the FM room to allocate funds to numerous schemes that will benefit the poor. Providing free electricity to one crore households under PM Surya Ghar …

India's rating upgrade possible in next 24 months if fiscal deficit falls to 4%: S&P
8 months, 1 week ago

India's rating upgrade possible in next 24 months if fiscal deficit falls to 4%: S&P

The Hindu  

A sovereign rating upgrade for India in the next 24 months is possible if the central government is able to prudently manage its finances and bring down fiscal deficit to 4% of GDP, an S&P Global Ratings official said on July 3. S&P Global Ratings Director, Sovereign Ratings, YeeFarn Phua, said the trigger for upgrade would be general government deficit …

Coalition crutches could cramp reform chase, say Moody’s, Fitch
9 months, 1 week ago

Coalition crutches could cramp reform chase, say Moody’s, Fitch

The Hindu  

With the BJP losing an outright majority in the Lok Sabha, global rating agencies on Wednesday said navigating far-reaching reforms may prove more difficult during a coalition-dependent third term likely for Prime Minister Narendra Modi. While “broad policy continuity” is expected in areas such as the thrust on public capex to spur the economy and gradual fiscal consolidation, a BJP-led …

PM Modi's smaller mandate to slow India's fiscal tightening, Moody's says
9 months, 1 week ago

PM Modi's smaller mandate to slow India's fiscal tightening, Moody's says

Hindustan Times  

The narrower margin of victory for Prime Minister Narendra Modi's alliance in elections will forestall reforms that could have potentially facilitated aggressive fiscal consolidation, an analyst at Moody's Ratings said on Wednesday. S&P Global Ratings raised India's sovereign rating outlook to 'positive' from 'stable' last week saying the country's robust economic expansion was having a constructive impact on its credit …

Lok Sabha Election Results: Moody's predict slow fiscal reforms as India returns toward coalition government
9 months, 1 week ago

Lok Sabha Election Results: Moody's predict slow fiscal reforms as India returns toward coalition government

India TV News  

Moody’s Ratings on Wednesday suggested that the slim majority won by the BJP-led National Democratic Alliance's in Lok Sabha will likely delay far-reaching economic and fiscal reforms that could impede progress on fiscal consolidation. However, it added "However, the NDA's relatively slim margin of victory, as well as the BJP's loss of its outright majority in parliament, may delay more …

The budget does well on both the big Cs: Capex and consolidation
1 year, 1 month ago

The budget does well on both the big Cs: Capex and consolidation

Live Mint  

Emphasis on the two big Cs—Capex and Consolidation—was the hallmark of India’s interim budget for 2024-25. The government’s concerted focus on capex-led growth has kept the economy in good stead, aiding its emergence as the fastest-growing major economy in the world for three consecutive years by logging 7%-plus real gross domestic product growth. The budget ticked all the boxes on …

Interim budget 2024-25: Govt stays the course on fiscal consolidation path
1 year, 1 month ago

Interim budget 2024-25: Govt stays the course on fiscal consolidation path

Hindustan Times  

The government is on the path of fiscal consolidation, finance minister Nirmala Sitharaman said in her interim budget speech, revising the fiscal deficit estimate for FY24 to 5.8% of GDP from 5.9% estimated in the budget last year, and reiterated her resolve to bring it below 4.5% by 2025-26, targetting 5.1% in FY25 on the back of buoyant tax collections …

Fitch retains India rating with stable outlook
1 year, 2 months ago

Fitch retains India rating with stable outlook

New Indian Express  

NEW DELHI: Fitch Ratings has retained India’s sovereign rating at ‘BBB-’ with a stable outlook. While affirming India’s rating, the agency said that India’s robust medium-term GDP growth outlook and sound external finances remain intact. However, Fitch Ratings did point out that India’s weak public finances - illustrated by high deficits, debt and interest/revenue ratio compared with peers - continue …

Budget 2024: 5 essential questions for investors answered by Goldman Sachs
1 year, 2 months ago

Budget 2024: 5 essential questions for investors answered by Goldman Sachs

Live Mint  

Budget 2024: Goldman Sachs in its report on FY25 interim budget say that interim budget is likely to follow the fiscal consolidation path Three key things for investors to look out for in the interim budget as per Goldman Sachs include: a) the government’s commitment to the medium-term fiscal consolidation path, b) if capex growth can continue with fiscal consolidation, …

Interim budget 2024: India aims to lower budget deficit, raise capex by 20%
1 year, 2 months ago

Interim budget 2024: India aims to lower budget deficit, raise capex by 20%

India Today  

As India gears up for its 2024/25 budget, there are indications that the government is planning to reduce its budget deficit by at least 50 basis points from the current year's target of 5.9 per cent of Gross Domestic Product. Devendra Pant, an economist at India Ratings, was quoted in the report saying that reducing the government's money shortage and …

Fitch downgrades US credit rating from AAA to AA+ amid fiscal face-offs
1 year, 7 months ago

Fitch downgrades US credit rating from AAA to AA+ amid fiscal face-offs

India TV News  

Fitch Ratings has downgraded the US government over the past two years, citing "poor governance standards" and rising federal, state, and local debt. Fitch warned on May 24 that the government's triple-A rating could be lifted as Congress renews efforts to increase credit. According to the person, who requested anonymity in order to disclose private conversations, a report from Fitch …

Fitch pares India’s GDP growth forecast for this year to 6% from 6.2%
1 year, 10 months ago

Fitch pares India’s GDP growth forecast for this year to 6% from 6.2%

The Hindu  

Fitch Ratings has lowered its 2023-24 GDP growth forecast for India to 6% from 6.2%, citing headwinds from elevated inflation and interest rates along with subdued global demand, with the economy expected to rebound to 6.7% in 2024-25 as opposed to 6.9% projected earlier. While India will be one of the fastest-growing sovereigns rated by Fitch, bolstered by “resilient investment …

Explained | Is the government on track on fiscal deficit targets?
2 years, 1 month ago

Explained | Is the government on track on fiscal deficit targets?

The Hindu  

The story so far: In the Union Budget for 2023-24, Finance Minister Nirmala Sitharaman chose the path of relative fiscal prudence and projected a decline in fiscal deficit to 5.9% of gross domestic product in FY24, compared with 6.4% in FY23. In Union Budget 2023-24, the fiscal deficit to GDP is pegged at 5.9% in FY24. The primary deficit, which …

A balance between capital outlays and fiscal prudence
2 years, 1 month ago

A balance between capital outlays and fiscal prudence

The Hindu  

The Budget comes at a time when the government faces a delicate balancing act between expenditure priorities and the need for fiscal prudence as it is the last full Budget before the general elections. There are five issues that need to be analysed in this Budget — three from a growth and fiscal stability perspective and two from a welfare …

India to face challenges in meeting fiscal deficit target: Report
2 years, 1 month ago

India to face challenges in meeting fiscal deficit target: Report

Hindustan Times  

India could find it challenging to meet the fiscal deficit target of 4.5% of GDP in 2025-26, an analyst at Fitch Ratings said on Wednesday, adding that the country's sovereign rating continues to remain stable. Earlier in the day, an official at Moody's Investors Service had also said that the government's fiscal deficit target for 2025/26 could see some risks. …

Chandrajit Banerjee | India needs ‘growth’ Budget as global risks get amplified
2 years, 2 months ago

Chandrajit Banerjee | India needs ‘growth’ Budget as global risks get amplified

Deccan Chronicle  

The forthcoming Union Budget, to be presented in Parliament by finance minister Nirmala Sitharaman on February 1, will be the first real post-Covid Budget and the last full-year Budget before the general election is announced. As per the latest government numbers, the economy remains on track to achieve the fiscal target of 6.4 per cent of GDP on the back …

India’s credit worthiness stable compared to negative outlook for the world: Moody’s
2 years, 2 months ago

India’s credit worthiness stable compared to negative outlook for the world: Moody’s

Live Mint  

NEW DELHI: The outlook on credit worthiness outlook for sovereigns in the Asia-Pacific region, including India, for 2023 is stable, compared to the negative outlook for sovereigns elsewhere, said rating agency Moody’s Investors Service on Monday. “The debt sustainability and financial stability are relatively well anchored in the region, with contained government liquidity risks, broadly stable debt dynamics and generally …

Budget 2023: Ahead Of 2024 Elections, Govt Likely To Continue Fiscal Consolidation, Says Report
2 years, 2 months ago

Budget 2023: Ahead Of 2024 Elections, Govt Likely To Continue Fiscal Consolidation, Says Report

ABP News  

The Narendra Modi government is expected to remain on the path of fiscal consolidation in the last full Budget before the 2024 elections. According to the survey, more than 80 per cent of the economists said that fiscal consolidation was likely to be the dominant theme in the budget to be announced on February 1. But the pandemic severely affected …

Why India needs a Fiscal Council
2 years, 9 months ago

Why India needs a Fiscal Council

The Hindu  

Globally public debt, i.e. The International Monetary Fund Global Financial Stability Report, published in April 2022 revealed that in the emerging market economies, the average ratio of public debt to GDP rose to a record 67% last year. Therefore, from a macroeconomic perspective, higher public debt in a low interest rate regime was substantiated to boost capital infrastructure spending, which …

Union Budget 2022: Centre strikes a fine balance between growth and fiscal consolidation
3 years, 1 month ago

Union Budget 2022: Centre strikes a fine balance between growth and fiscal consolidation

Firstpost  

People were expecting more direct cash enhancement measures for the agriculture and rural belts, as growing joblessness and weak demand in rural belts is acting as a major drag on India’s economic recovery in the current phase The Union Budget for 2022-23 announced on 1 February is clearly prepared within tough fiscal constraints. The underlying macroeconomic framework shows that the …

Govt seen boosting budget spending on infrastructure
3 years, 1 month ago

Govt seen boosting budget spending on infrastructure

Live Mint  

India plans to raise spending on infrastructure in its annual budget next week to set the economy on a firmer footing, but fiscal constraints leave little chance of concessions for households hurting from the pandemic, officials said. Yet these are likely to be overshadowed by spending to beef up transport and healthcare networks, which analysts estimate could rise between 12% …

Fitch retains negative outlook for India’s sovereign rating
3 years, 4 months ago

Fitch retains negative outlook for India’s sovereign rating

Live Mint  

Fitch Ratings on Tuesday reaffirmed its lowest investment grade sovereign rating for India with negative outlook holding that the country’s rating balances a still-strong medium-term growth outlook and external resilience from solid foreign-reserve buffers, against high public debt, a weak financial sector and some lagging structural issues. However, the negative outlook on the rating reflects lingering uncertainty around the medium-term …

Fiscal metrics to stay weak on COVID: S&P
3 years, 10 months ago

Fiscal metrics to stay weak on COVID: S&P

The Hindu  

An ongoing second wave of COVID-19 infections in India could hurt its near-term economic recovery and possibly diminish growth for the full year, S&P Global Ratings said on Tuesday. “India’s COVID wave will inevitably hit the recovery and could push growth below 10%,” said Shaun Roache, chief economist, Asia Pacific at S&P. “The longer it takes to regain control, the …

Slower Consolidation to Constrain India's Fiscal Strength Over Medium Term: Moody's
4 years, 1 month ago

Slower Consolidation to Constrain India's Fiscal Strength Over Medium Term: Moody's

News 18  

Rating agency Moody’s on Wednesday India’s fiscal deficit projections are higher than expected and slower consolidation will constrain its fiscal strength over the medium term. The US-based agency said it expects India’s nominal GDP growth to rise to closer to 17 per cent in fiscal 2021, higher than 14.4 per cent projected in the Budget. The budget’s focus on higher …

Reforms can support India’s medium-term growth: Fitch
4 years, 3 months ago

Reforms can support India’s medium-term growth: Fitch

Live Mint  

Fitch Ratings on Friday said the government’s economic reforms agenda in response to the coronavirus pandemic has the potential to raise India’s medium-term growth rate. “Raising medium-term growth rates under these circumstances will require reforms to support investment and boost productivity. We noted the GDP growth outlook as a key rating sensitivity when we revised the outlook on India’s ‘BBB-’ …

Fitch Ratings downgrades India outlook from ‘stable’ to ‘negative’
4 years, 8 months ago

Fitch Ratings downgrades India outlook from ‘stable’ to ‘negative’

Live Mint  

Fitch Ratings on Thursday revised downward its rating outlook for India from stable to negative while retaining the sovereign rating at the lowest investment grade, citing increasing risk to the country’s growth and debt outlook. “The coronavirus pandemic has significantly weakened India’s growth outlook for this year and exposed the challenges associated with a high public-debt burden,” Fitch said. India’s …

Fitch Ratings Revises India’s Outlook to ‘Negative’ From ‘Stable’
4 years, 8 months ago

Fitch Ratings Revises India’s Outlook to ‘Negative’ From ‘Stable’

The Quint  

Fitch Ratings noted that India’s fiscal metrics have deteriorated significantly, notwithstanding the government's expenditure restraint, due to the impact of the severe growth slowdown on revenue. This is significantly higher than the median of 42.2% of GDP for the 'BBB' category in 2019, to which FY20 corresponds, and 52.6% for 2020.” A statement from the rating agency said that liquidity …

Coronavirus Outbreak: India's rating could come under pressure if fiscal outlook deteriorates, says Fitch
4 years, 10 months ago

Coronavirus Outbreak: India's rating could come under pressure if fiscal outlook deteriorates, says Fitch

Firstpost  

Fitch Ratings on Tuesday said India’s sovereign rating could come under pressure if there is further deterioration in fiscal outlook as a result of lower growth or fiscal easing New Delhi: Fitch Ratings on Tuesday said India’s sovereign rating could come under pressure if there is further deterioration in fiscal outlook as a result of lower growth or fiscal easing. …

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