Rates India 'BBB-' with a negative outlook.
New Delhi plans to cut public spending by up to 10 percent in the fiscal year starting in April, officials involved in the budget preparations told Reuters last week, as Finance Minister P Chidambaram struggles to bring down the fiscal deficit to 4.8 percent of gross domestic product and stave off a credit rating downgrade.
Exports were up 0.8 per cent in Jan while imports rose 6 per cent.
Due to a spike in crude oil prices and the govt's high fiscal deficit
Central bank estimate economy to grow at 5.5 per cent.
India imports 80 percent of its oil, which adds to inflationary pressure.
Remarks come at a time when he is under pressure from the govt to cut interest rates.
© 2025 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances