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

NSEL payments: HC orders creation of three-member monitoring panel

The three-member panel will negotiate with borrowers, FTIL and EOW on liquidation of borrowers' assets

El Niño worries inflation managers

RBI has decided to consider inflation based on new series CPI in which half of the weight is for food, beverages and tobacco

Sensex eyes Summit 23k as indices hit new peaks

Analysts expect gains to be limited in the near term as companies post their financial results and India continues its five-week long election ...

Traders trim positions ahead of poll results

Rollovers decline; open interest drops

Sebi's Draft Fatca norms: Greater scrutiny ahead for high-value US a/cs

Individual accounts with holdings of more than $1 mn will come under greater scrutiny; those with balances less than $50,000 will be exempt from ...

Back to Top