S&P reaffirms India's stable outlook: DEA Secretary
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
Shubman Gill Appointed New Captain of Gujarat Titans for IPL 2024
AAP Launches 'Ambedkar Fellowship for Political Change' to Empower Youth in Politics
Justice Served But No Closure, Says Soumya Vishwanathan's Mother After Sentencing Of Convicts
Tamil Nadu's Healthcare Boom: From Hotel Rooms to Hospital Wards, Shifting Focus from Hospitality to Hospitals
Elon Musk Set to Visit Israel and Meet PM Netanyahu Amid Antisemitism Controversies