Support for India ratings has weakened somewhat: S038;P

The economic support for India8217;s sovereign ratings has weakened 8220;somewhat8221; given the sluggish growth in Asia8217;s third largest economy,Kim Eng Tan,senior director of Asia-Pacific Sovereign Ratings at Standard amp; Poor8217;s said in a webcast on Friday.

Tan also said the recently unveiled government budget showed 8220;fiscal prudence8221;,but higher spending targets posed a risk,in comments similar to its report last month.

India8217;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.