S&P reaffirms India's sovereign rating at BBB-, retains outlook at 'stable'
Updated : February 14, 2020 07:46 AM IST
The rating agency, however, pointed out that India''s fiscal position remains precarious, with elevated fiscal deficits and net government indebtedness.
Fiscal deficits have exceeded the government''s plan, S&P said, adding it expects limited consolidation over the next few years.
India''s economic growth is estimated to slow down to 5 percent during 2019-20 and the government expects the GDP to rebound to over 6 percent in the next financial year.