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Budget unlikely to impact credit rating: Agencies

S&P, Fitch and Moody's cite lack of structural reforms in Budget

Reuters  |  Mumbai 

The Budget is unlikely to have an impact on India's sovereign credit given the absence of meaningful fiscal reform, credit-rating firms said on Monday, with Standard & Poor's ruling out a rating upgrade for at least a year. The comments come after Finance Minister Arun Jaitley on Saturday announced a Budget for the year through March 2016 prioritising economic growth over reform, which is likely to slow the pace of narrowing a fiscal deficit. Jaitley set next fiscal year's deficit target at 3.9% of gross domestic product (GDP) - higher than analyst ...

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