Reducing tax evasion will help government to earn more revenues.
The downgrade threat comes in the backdrop of growth slowing to a nine-year low of 5.3% in the fourth quarter of 2011-12, high inflation
The battered rupee is likely to trade in the range of 54-56 against dollar in the current fiscal with a possibility of widening of this band depending on strengthening of the US unit, Citi Research said.
India's economy is likely to grow at the slowest rate in a decade this year.
The finance ministry has already raised the fiscal deficit target to a more acceptable level of 5.3 per cent.
Fitch Ratings said with GDP growth of 6.5% and WPI-based inflation of 8.8%, India may have entered into a stagflation period in 2011-12.
For 2021-22, it projected the economy to clock a growth of 10.6 per cent.
Speaking at industry association CII's annual session, PM Modi said the government has taken tough steps to fight the coronavirus pandemic and has also taken care of the economy. "On the one hand we have to safe the lives of our people and on the other hand we have to stabilise the economy and speed up the economy," he said. "Yes, we will definitely get our growth back," he asserted.
A dossier will be given to the FATF, an international terror financing watchdog.
The credit ratings business is dominated by Moody's, Standard & Poor's and Fitch
Responding to what is widely felt by the political establishment in Europe to be the "destabilising" role played by credit ratings agencies in the ongoing euro zone crisis, the European Commission unveiled measures to curb their power.
Bank stability is an ever-more pressing concern for the world's corporations and investors says Global Finance, while announcing the half-yearly update of its ranking of the world's 50 safest banks.
Global Finance announced its 20th Annual Ranking of the World's 50 safest banks.
Banking stocks led by Yes Bank, ICICI Bank, Axis Bank and SBI came under heavy selling pressure
State-owned oil firms have decided to "wait-and-watch" the international scenario and the rupee-dollar rate before deciding to cut petrol prices.
On Thursday, the local unit had ended higher by 42 paise at 54.94, its highest closing since May 18 against the dollar on sustained FII inflows.
Only five Indian companies would be in a position to choose most available redemption options for their foreign currency convertible bonds (FCCBs), due for redemption this year, according to a report by Fitch. The rating agency said of the $7 billion FCCBs, 20 per cent were likely to face a default, owing to the stressed liquidity position of the companies.
The move was not good for companies which have capital expenditure plans laid out.
Continued demand for generics from the US market will ensure stable outlook for Indian Generics Pharmaceuticals in 2011, global rating agency Fitch Ratings said on Monday.
With the American economy still recovering with the market reaching full potential, US companies like Abercombie is planning to tap emerging markets for luxury buys.
Fans on Twitter wanted to know what happened to Kendal and Gigi's knees!
The agency had in May projected an economic growth between 7.7 and 8 per cent for this fiscal and Monday's revision comes within a week of rival Fitch Ratings, and Citigroup revising the same to 7.5 per cent from 7.7.
Fund raising by Indian companies through the offshore debt market is expected to rise in 2015.
Pakistan has been scrambling in recent months to avoid being added to a list of countries deemed non-compliant with anti-money laundering and terrorist financing regulations.
An overview of the 10 biggest banks of the world on the basis of their assets.
The CreditWatch action follows Vedanta's announcement that it would acquire a controlling stake in India-based oil and gas company Cairn India Ltd.
A statement issued by the Interior Ministry also said the crackdown on Jaish 'has been taken in line with the decision of the NSC meeting'.
Sustained foreign funds outflows and the rupee depreciating 68 paise to hit a three-month low of 64.88 (intra-day) against the dollar affected investor sentiment
Moody's Investors Service on Friday projected India's growth at zero per cent for the current fiscal and said the negative outlook on sovereign rating reflects increasing risks that GDP growth will remain significantly lower than in the past. The outlook also partly shows weaker policy effectiveness to address economic and institutional issues, it noted in the update to its November 2019 rating forecast.
Modi said a separate rating agency would help the economies of the member countries as well as other developing nations.
Bombay Dyeing & Manufacturing Co Ltd said Fitch Rating India Pvt Ltd affirmed F1 + (Ind) rating to its short-term debt program.
However, the Indian economy is expected to bounce back in 2021, the World Bank said.
A majority of fixed income investors expect the fiscal deficit to stay close to the government's target of 5.5 per cent or lower in the year to March 2011, according to a Fitch Ratings survey of money managers at asset management companies, life insurers, pension funds and banks.
Auto component sales in the country are likely to rise in 2010 on the back of positive outlook for cars sales but overseas demand will continue to be sluggish, global rating firm Fitch said.
The world's biggest lockdown that shut a majority of the factories and businesses, suspended flights, stopped trains and restricted movement of vehicles and people, may have cost the Indian economy Rs 7-8 lakh crore during the 21-day period, analysts and industry bodies said.
The finance ministry on Tuesday cited "green shoots" of recovery in agriculture, manufacturing and services sectors, and said the prompt policy measures taken by the government and RBI have helped reinvigorate the economy with minimal damage. Stating that the agricultural sector remains the foundation of the Indian economy, the ministry said that a normal monsoon, as has been forecast, should support the rebooting of economy.
The teaser home loan rate, the interest rate which is set artificially low for the initial period, could give a 'payment shock' to borrowers as the equated monthly installment (EMI) shot up on lenders charging regular interest rates, according to Fitch officials.
Balmer Lawrie Van Leer Ltd said Fitch India Ratings has awarded F1 to the company for raising of short term funds through a Rs 50-million commercial paper.
The government is also approaching the other two major rating agencies - Moody's and Fitch - to explain its fiscal strategy, the economic situation and the outlook.
India's growth outlook has weakened sharply this year, with a crunch that started with the non-banking finance institutions spreading to retail businesses, car-makers, home sales and heavy industries.
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