India’s new fiscal stimulus shifts focus back to longer-term growth, says Moody’s


India’s recent $36 billion-worth economic stimulus measures that aim to boost manufacturing and create more jobs present a potential upside to the country’s economic growth forecasts, Moody’s said in a report on Thursday. Only about a week ago, the global ratings agency had revised upwards its previous growth forecast for the South Asian nation. It had […]

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India’s forex reserves climb up as government advisory panel suggests range for fiscal deficit targets for Centre, states


India’s foreign exchange reserves surged by USD 3.883 billion to touch a lifetime high of USD 541.431 billion, RBI data showed.  on Friday. Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves. The country’s reserve position […]

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India’s fiscal deficit likely to touch 7% in FY21 against 3.5% budget estimate: Brickwork Ratings


India’s fiscal deficit is expected to touch 7 per cent of GDP in 2020-21 fiscal as against budget estimate of 3.5 per cent, with revenue collections being hit amid disruptions in economic activities due to lockdowns, according to Brickwork Ratings. “The impact of the lockdown on economic activity shows up starkly in the trends in […]

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Fitch Ratings joins S&P and Moody’s in trimming India outlook to `negative’


Fitch Ratings retained its sovereign rating for India at the lowest investment grade of BBB negative, and trimmed its outlook to ‘negative’ from ‘stable’, citing a sharp Covid-induced deterioration of the country’s growth and fiscal metrics. In a statement, Fitch said: “The coronavirus pandemic has significantly weakened India’s growth outlook for this year and exposed […]

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India’s Apr-Sep 2019 fiscal deficit (half-yearly) reaches 92.6% of FY20 target

India’s fiscal deficit touched nearly 93 per cent of the budget estimate at Rs 6.52 lakh crore during April-September period of the current financial year, according to latest government data. The fiscal deficit amounts to 92.6 per cent of the budgeted target for the current fiscal year. In absolute terms, the fiscal deficit, the gap […]

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