02-21-2009, 11:56 AM
<b>India fiscal deficit worrying, to review rating - S&P's</b><!--QuoteBegin-->QUOTE<!--QuoteEBegin-->The federal debt as a percentage of GDP and the rising fiscal deficit are two significant factors which are constraining ratings and that is something which also may pull them lower," he said, after the budget was presented.
Acting Finance Minister Pranab Mukherjee said the fiscal deficit for the fiscal year ending March would be 6 percent, compared with a budgeted estimate of 2.5 percent. It expects 2009/10 fiscal deficit at 5.5 percent.
Standard and Poor's rates Asia's third-biggest economy's local currency rating at "BBB - minus", or the lowest investment-grade level, with a stable outlook.
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Acting Finance Minister Pranab Mukherjee said the fiscal deficit for the fiscal year ending March would be 6 percent, compared with a budgeted estimate of 2.5 percent. It expects 2009/10 fiscal deficit at 5.5 percent.
Standard and Poor's rates Asia's third-biggest economy's local currency rating at "BBB - minus", or the lowest investment-grade level, with a stable outlook.
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