Friday, 25 September 2020

S and P reaffirms India's stable outlook: DEA Secretary

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  • IANS | 10 months ago

New Delhi, Dec 3 : Economic Affairs Secretary Atanu Chakraborty on Tuesday said that S and P has reaffirmed sovereign rating of India at BBB- with a stable outlook.


In a series of tweets, he said "...They have stated that India's economy continues to achieve impressive long-term growth rates despite a recent deceleration..

"Siamp;P expects the Indian economy to continue to out-perform its peers and that the growth will remain strong over the next 2 years."

Last month, Moody's cut India credit rating outlook to negative, citing a host of problems from a worsening shadow banking crunch and a prolonged slowdown in the economy to rising public debt.

The sharp slowdown in growth and a surprise corporate tax rate cut is expected to put government finances under added pressure this year.

Siamp;P maintained its outlook on India despite 4.5 per cent GDP growth in Q2, the lowest in last six years.

S and P reaffirms India's stable outlook: DEA Secretary

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