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PM Modi feels heat from credit agencies on Budget

Reuters  |  Mumbai/Delhi 

Prime Minister Narendra Modi is under pressure to perform on the economy after a Budget packed with ambitious targets met mild scepticism from investors and credit-rating agencies and failed to dispel the latent risk of a downgrade. With varying degrees of severity, Fitch, Moody's and Standard & Poor's all expressed worries that Finance Minister Arun Jaitley's pledge to keep this year's fiscal deficit to 4.1 percent of gross domestic product looked unrealistic. While the Budget unveiled a number of measures to attract foreign investment, Jaitley's revenue and ...

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First Published: Sat, July 12 2014. 00:11 IST