1:24 am - Friday March 29, 2024

India’s Fiscal, Economic Reforms to Determine Credit Rating: S&P

577 Viewed Alka Anand Singh Comments Off on India’s Fiscal, Economic Reforms to Determine Credit Rating: S&P
Metal stocks extend Monday's gains on China's economic reform plans
Metal stocks extend Monday's gains on China's economic reform plans

The fiscal and economic reforms taken by India’s new government in the next two to three months will have “significant implications” on India’s sovereign credit rating, Standard & Poor’s Ratings Services said on Friday.

S&P added the next government would need to regain “fiscal prudence in a sustainable way,” such as by implementing a goods and services tax to help stabilise government revenues.

“What the next government says and does in the coming months is crucial to boosting confidence in the policy settings and the economy,” S&P credit analyst Takahira Ogawa was quoted as saying in the statement.

“If confidence rises, investment and consumption in India could strengthen, after being held back by the uncertainty surrounding the election.”

The S&P statement came after the Bharatiya Janata Party and its allies headed for the biggest victory the country has seen in 30 years.

S&P is the only of the three major credit agencies to have India with a “negative outlook” for its “BBB-minus” rating, meaning any downgrade would send the country to below investment grade.

Don't miss the stories followIndiaVision India News & Information and let's be smart!
Loading...
0/5 - 0
You need login to vote.
Filed in
Sensex down 36 points in early trade

Sensex hits record high above 25,000; BJP to face key investor tests

Apple patents tech to `track your home`!

Apple, Google call truce in long-running smartphone patent war

Related posts