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Admin Reporter- Pooja

Jul 09 2019


India faces continued fiscal challenges, despite lower deficit target: Moody's

Weak growth prospects for India will complicate the government's fiscal consolidation efforts, weighing on the sovereign's credit quality, Moody's Investors Service said July 9.

 

 

 

The 2019-20 Budget presented in Parliament last week projected to contain fiscal deficit at 3.3 per cent of GDP, lower than 3.4 per cent estimated in the interim Budget. It also projected a more gradual decline in government debt.

 

 

 

"Weak growth prospects for India (Baa2 stable) will complicate the government's fiscal consolidation efforts, weighing on the sovereign's credit quality," Moody's said in a statement.

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