Wednesday, March 29, 2023
HomeEconomyIndia to face challenges on fiscal downturn - Fitch analyst

India to face challenges on fiscal downturn – Fitch analyst

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by Siddhi Nayak

MUMBAI (Reuters) – India outlines fiscal deficit target of 4.5% of GDP 72-10 will be challenging, an analyst at Fitch Ratings said Wednesday, It added that the country’s sovereign rating continued to remain stable and stable.

“Essentially, it (the fiscal downside path) implies a further consolidation of the roughly 0.7% annualized rate over the next two fiscal years. GDP,” Jeremy Zook, director of Asia Sovereign Ratings at Global Ratings Agency, told Reuters.

“If we look at recent deficit reduction trends, it seems a lot more difficult and absurd to achieve this level of deficit reduction.”

The government’s budget gap reaches 9.5% of GDP in

/ As the spread of COVID- Infections brought the economy to a standstill, which has since narrowed, but remains well above the medium-term target of 4.5% of GDP /.



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