Support for India ratings has weakened somewhat: S&P

India's economic expansion has slowed dramatically from more than 9% in early 2011.

Written by Reuters | Published:March 15, 2013 12:56 pm

The economic support for India’s sovereign ratings has weakened “somewhat” given the sluggish growth in Asia’s third largest economy,Kim Eng Tan,senior director of Asia-Pacific Sovereign Ratings at Standard & Poor’s said in a webcast on Friday.

Tan also said the recently unveiled government budget showed “fiscal prudence”,but higher spending targets posed a risk,in comments similar to its report last month.

India’s economic expansion has slowed dramatically from more than 9 percent in early 2011 to just 4.5 percent in the October-December quarter of 2012.

Video of the day

For all the latest News Archive News, download Indian Express App

    Live Cricket Scores & Results