India must raise pace of fiscal improvement - Fitch
MUMBAI (Reuters) - India needs to do more for fiscal improvement to catch up with its peer group, a senior official at Fitch Ratings said on Friday, after India unveiled its annual budget for the fiscal year that starts in April.
"Overall, we think the country's fiscal improvement is fairly in place, but India obviously has to do more to catch up with its rating peer group," Franklin Poon, director at Fitch Asia sovereign team in Hong Kong, told Reuters.
"So, the budget, in that perspective, is disappointing because it does not announce any measure for India to continue improve to fasten the pace of fiscal improvement," he said.
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Prime Minister Narendra Modi came to office with a reputation as a business-friendly leader ready to open up one of the world's biggest markets and sweep away the remnants of the country's socialist past. Full Article