S&P: budget will not impact India's sovereign ratings
MUMBAI (Reuters) - Standard & Poor's said on Thursday India's budget for the 2013/14 fiscal year would have no impact on the country's sovereign credit ratings, warning there was potential for the government to exceed its budgeted spending.
S&P also said there had been "little progress" in structural reforms to reduce the "vulnerability" in the government's fiscal position.
S&P last year cut its outlook on India's "BBB-minus" sovereign ratings to "negative," threatening to push the country into sub-investment category.
(Chidambaram calls for tough choices, click here)
(Rich taxpayers to pay 10 percent surcharge, click here)
(Budget 2013 highlights, click here)
(Reporting by Rafael Nam; Editing by Anand Basu)
- Tweet this
- Share this
- Digg this
- In his native Alabama, Apple CEO's announcement he is gay prompts discomfort for some
- U.S. nurse defies Ebola quarantine with bike ride; negotiations fail
- Nurse defies Ebola quarantine with bike ride; negotiations fail |
- Islamic State fighters kill 220 Iraqis from tribe that opposed them
- UPDATE 3-Starbucks Americas sales disappoint on softer traffic
The BSE Sensex and Nifty on Friday rose to their second consecutive record highs. The 30-share Sensex surged as much as 1.5 percent to an all-time high of 27,759.01. The broader Nifty gained as much as 1.49 percent to a record of 8,291.65. Full Article
China's shadow banking sector growing rapidly, third largest in world - FSB. Full Article