1. Union Budget 2015 shows commitment to keep fiscal deficit low: Standard and Poor’s

Union Budget 2015 shows commitment to keep fiscal deficit low: Standard and Poor’s

Finance Minister Arun Jaitley-presented Union Budget 2015-16 highlighted the PM Narendra Modi-led Bharatiya Janata Party (BJP) government...

By: | Mumbai | Published: March 2, 2015 2:29 PM
budget, budget 2015, budget highlights, budget india, arun jaitley, narendra modi, bharatiya janata party, bjp news

“India’s 2015-2016 budget highlights the government’s commitment to keeping the fiscal deficit low despite lower-than-expected revenue growth,” Standard & Poor said in a statement

Finance Minister  Arun Jaitley-presented Union Budget 2015-16 highlighted the PM Narendra Modi-led Bharatiya Janata Party (BJP) government at the Centre’s commitment to keeping the fiscal deficit low, ratings agency Standard and Poor’s (S&P) said, adding that the country’s debt burden and subsidy bill could constrain its ratings.

“India’s 2015-2016 budget highlights the government’s commitment to keeping the fiscal deficit low despite lower-than-expected revenue growth,” S&P said in a statement on Monday.

“This commitment moderates the drag on sovereign credit support posed by the relatively heavy general government debt burden in India,” it added.

“Nevertheless, the debt burden and large budgetary subsidies could constrain the speed of improvements in India’s credit metrics.”
Indian Finance Minister Arun Jaitley on Saturday announced a budget that put boosting growth before painful reforms, slowing the pace of fiscal deficit cuts and seeking to put domestic and foreign capital to work.

S&P currently rates India at “BBB-minus”, its lowest investment grade rating, with a “Stable” outlook.

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