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Unlike Moody’s, S&P Keeps India’s Rating Unchanged with a “Stable Outlook”
November 27, 2017
US-based rating company Standard & Poor (S&P) reviewed the sovereign rating for India only to leave it unchanged at “BBB-minus”. It also mentioned that the nation has a “stable” outlook as the high government debt and low per capita income cancel out the strong GDP growth.
India’s economy is expected to grow strongly during 2018-2020 with foreign reserves making a jump. However, high fiscal deficits and government debt burden, as well low per capita income balance the same, the S&P report said.
Principal Economic Adviser Sanjeev Sanyal called the rating as “a bit unfair”. Many other government officials and members of the ministries have responded in the same way.
