DelhiDesk S&P Global Ratings has affirmed India’s BBB Long Term and A-3 Short Term, Unsolicited Foreign and Local Currency Sovereign Credit Ratings, while maintaining the Long Term Rating outlook at Stable. S&P said that India’s strong economy and healthy revenue growth will go a long way in correcting its weak financial position, and estimated that India’s tight fundamentals would be sufficient to support the government’s funding requirement over the coming 24 months and the burden of high interest rates on debt. S&P expects the country’s economy to grow by around 6 per cent in 2023-24, and investment and consumer momentum will help immensely in the growth prospects in the coming few years.
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Here is the news bullets sorted by DelhiBreakings.com team.
– S&P Global Ratings affirms India’s credit rating
– India’s economy doing well despite global challenges
– Strong fundamentals to improve growth in next 2-3 years
– S&P affirms BBB Long Term and A-3 Short Term, Unsolicited Foreign and Local Currency Sovereign Credit Ratings
– India’s tight fundamentals can support government funding requirements and high interest rates on debt
– S&P expects India’s economy to grow by around 6% in 2023-24
– Strong uptick in capital expenditure allocations raises quality of government’s equity programs
– Fiscal consolidation in India has outperformed regional peers at the same rating level
– Central government expected to gradually reduce deficit to around 7.3% of GDP by financial year 2027
– English summary of the story and publication details at the end of the article.
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