MUMBAI 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.
BP unit selling up to $261 million stake in Castrol India - termsheet
MUMBAI Castrol Ltd, a unit of oil major BP Plc, is selling an up to $261 million stake in Castrol India Ltd in a block trade on Wednesday, according to a termsheet seen by Reuters.
Welspun India shares plummet again on contagion fears in cotton sheet dispute
MUMBAI Welspun India's shares plunged 20 percent for a second day on Tuesday, as the fallout from Target Corp's decision to terminate business with the firm for passing off cheap sheets as premium Egyptian cotton escalated.
Illicit gold: India's smugglers shut out refiners, banks
MUMBAI Indian gold refiners just months ago were ramping up capacity and struggling to secure enough ore from miners. Now, they are suspending operations as a surge in smuggled bullion wipes out wafer thin margins.