Downgrade Warning

Construction workers work at a site as the sun sets in the northern Indian city of Chandigarh December 16, 2006. REUTERS/Ajay Verma/Files

S&P affirms negative outlook on India, says chances of downgrade remain

Ratings agency Standard & Poor's affirmed India's sovereign rating at "BBB-minus" with a "negative" outlook, reiterating there was a one-in-three chance of a ratings downgrade over the next 12 months, a statement said on Friday.  Full Article 

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Economic Survey: inflation seen declining to 6.2-6.6 percent by March

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A fruit seller waits for customers at his stall at a wholesale market in Mumbai February 14, 2013. REUTERS/Vivek Prakash/Files

A fruit seller waits for customers at his stall at a wholesale market in Mumbai February 14, 2013.

Credit: Reuters/Vivek Prakash/Files

NEW DELHI | Wed Feb 27, 2013 12:23pm IST

NEW DELHI (Reuters) - The finance ministry delivered a report on the state of the economy on Wednesday, a day before Finance Minister P. Chidambaram unveils what is expected to be the most austere budget in years.

The annual report was prepared by Raghuram Rajan, the former chief economist to the International Monetary Fund (IMF), who became the top adviser in the finance ministry last year.

(Reporting By Frank Jack Daniel)
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