Business Standard

FDI, portfolio flows remain strong, India assures Fitch

Fitch execs arrive a day after rupee plunged to record low S&P had downgraded India to -ve in April

Related News

The government today pitched for a rating upgrade by the global agency saying it is committed to keep subsidies within 2% of the Gross Domestic Product (GDP) and contain fiscal deficit.

"We said we are committed to capping subsidy at 2%...We pitched for a rating upgrade," said a Finance Ministry official after a meeting with the representatives of Fitch here.

Fitch had last year affirmed BBB- rating for India, indicating moderate degree of safety regarding timely servicing of financial obligations. Finance Ministry officials had earlier held similar meetings with representatives of other credit rating agencies— Moody's and .     

Much to the discomfort of the government, Standard and Poor's last month lowered India's rating outlook to negative from stable, while retaining the rating at BBB.

Finance Minister Pranab Mukherjee yesterday said in the Rajya Sabha that the government would launch austerity measures to deal with the tight fiscal situation and would try to keep subsidies on oil, fertiliser and food within 2% of the GDP.

 

Read more on:   
|
|
|
|

Read More

Agri Min proposes Rs 170/quintal hike in paddy MSP

In view of rising farm input costs, the Agriculture Ministry has proposed a Rs 170 per quintal increase in the minimum support price (MSP) of paddy ...

Quick Links

 

Market News

Sebi working on revised listing agreement norms

Market watchdog in February this year, had approved new corporate governance norms

FII stake in ICICI Bank hits 6-year high

FIIs increased their stake in ICICI Bank to 39.85% in the March 2014 quarter from 38.39% in the quarter ended December 2013.

Chilli teja surges 3.25% on strong demand

Traders create fresh positions as tight supplies from grwoing areas add to positive sentiment

Coriander rises 0.67% on pick-up in demand

traders create fresh positions on restricted arrivals from growing regions

Turmeric down 1.3% on profit-booking

Spice for delivery in April lost 1.18%

Back to Top