S&P: India ratings to depend on next govt's policies
MUMBAI (Reuters) - Standard and Poor's may upgrade India's outlook if the government that is elected next month addresses some of the country's fiscal and economic challenges through steps such as passing a goods and services tax.
"If in the future they implement policies that effectively addresses some of the credit weaknesses that I have highlighted, we could revise the outlook to stable again," said S&P senior director Kim Eng Tan in a webcast.
"In the absence of effective policy action, we could lower the ratings on the sovereign," he added.
S&P rates India at "BBB-minus" and is the only of the three major credit agencies to have a "negative" outlook.
(Reporting by Suvashree Dey Choudhury; Writing by Neha Dasgupta; Editing by Rafael Nam)
- Tweet this
- Share this
- Digg this
DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.
Trending On Reuters
India's largest carmaker Maruti Suzuki India Ltd posted a smaller-than-expected rise in profit for the third quarter, hit by one-off items including a jump in advertising costs, a higher tax rate and lower income from investments. Full Article | Full coverage