Fitch Ratings downgraded India\'s credit outlook from stable to negative Monday, saying that the country\'s growth potential will deteriorate without a quickening of structural reforms. The latest blow to India\'s economy follows a similar downgrade by Standard & Poor\'s in April, with both agencies maintaining India\'s rating at BBB- but raising concerns over flagging growth and troublesome deficits. A statement from Fitch called for measures to create a more positive environment for businesses and private investments. \"The Negative Outlook also reflects India\'s limited progress on fiscal consolidation and, in particular, on reducing the central government deficit despite improvement in the financial health of state governments,\" it said. Earlier on Monday, India\'s central bank policy-makers surprisingly kept interest rates unchanged in a bid to curb inflation, despite pressure to cut the cost of borrowing to help boost growth. The statement from Fitch said it \"notes that India faces an awkward combination of slowing growth and still-elevated inflation\". Asia\'s third largest economy is facing a raft of economic woes including plummeting investor confidence and GDP growth of just 5.3 percent in January to March, its slowest quarterly expansion in nine years. Standard & Poor\'s warned this month that India could be the first of the BRIC major emerging economies to lose its investment-grade debt classification unless it revived growth and rekindled its reform agenda.
GMT 09:43 2018 Tuesday ,23 January
Global unemployment down but working poverty rampantGMT 15:13 2018 Sunday ,21 January
All you need to know about Davos 2018GMT 22:33 2018 Saturday ,20 January
Calls for action over dirty money flowingGMT 04:42 2018 Saturday ,20 January
Storm caused 90 mn euros in damage: Dutch insurersGMT 07:06 2018 Friday ,19 January
China economy rebounds in 2017 with 6.9% growthGMT 11:35 2018 Thursday ,18 January
'Massive' infrastructure spending needed in AfricaGMT 14:29 2018 Wednesday ,17 January
GE takes one-off hit of $6.2 bn linked to insurance activitiesGMT 18:55 2018 Tuesday ,16 January
London stock market edges to new high

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Send your comments
Your comment as a visitor