 "income tax, India, Economy")
Persisting slow economic growth could affect India’s sovereign rating, S&P Global Ratings has warned in its latest note. In a late night statement on Thursday, S&P said it could consider downgrading India’s sovereign rating in case the economy failed to recover. Last month, another global rating agency, Moody’s, changed its outlook for India’s credit rating from stable to negative due to the economic slowdown, financial stress in the rural sector, and liquidity issues in the financial sector.
The Indian economy is in a difficult situation and the possibility of rating downgrades will only exacerbate the complications in economic management. Growth
