S&P reaffirms India's stable outlook: DEA Secretary
03-December-2019
Economic Affairs Secretary Atanu Chakraborty on Tuesday said that S&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..
"S&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.
S&P maintained its outlook on India despite 4.5 per cent GDP growth in Q2, the lowest in last six years.-IANS
After Six Years of Profitable Bootstrapping, Medulance Raises Rs 25 Crore to Expand Nationally
IIM Grad and First-Generation Entrepreneur Anish Popli's ProcMart Secures Rs 250 Crore in Series B Funding
First Indian Space Tourist Talks Dreams and Inspiration Before Blue Origin Flight
Former MLA Rathod Bapu Rao Switches from BJP to Congress in Telangana
Zerodha Co-Founder Nikhil Kamath Launches 'WTFund' to Support Young Entrepreneurs