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Fitch analyst says 2013/14 budget won't impact Indian ratings
February 28, 2013 / 1:28 PM / in 5 years

Fitch analyst says 2013/14 budget won't impact Indian ratings

MUMBAI (Reuters) - Fitch Ratings sovereign analyst Art Woo said on Thursday the 2013/14 budget will not impact India’s sovereign ratings, although the country could find it challenging to meet its fiscal deficit target of 4.8 percent for the next fiscal year.

Labourers work at the construction site of a residential complex in Kolkata February 22, 2013. REUTERS/Rupak De Chowdhuri

Woo told Reuters Fitch continues to maintain its “negative” outlook and India’s “BBB-minus” rating.

“I wouldn’t say it’s unrealistic. I think it’s just going to be challenging,” said Art Woo in a phone interview, referring to India’s fiscal deficit target of 4.8 percent.

Reporting by Neha Dasgupta; Additional reporting by Shamik Paul; Editing by Anand Basu

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