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)
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Prime Minister Narendra Modi has a long list of pro-growth measures to implement over the next four months, but time may have already run out to breathe enough life into the economy to meet the tough 2014/15 fiscal deficit target without cuts. Article