India's budget could have been more ambitions on the fiscal front.
For India, Fitch Ratings has 'BBB-' rating.
"A significant decline in the growth number for this quarter is highly likely, but for the fiscal year as a whole the decline may still be relatively moderate," Fitch Asia-Pacific Sovereigns Group Director Thomas Rookmaaker said.
About 55 banks participated in the deal, making it the largest bank group for a syndicated loan in Asia so far this year.
The target announced is 13.6 per cent higher than that set last year and 145.4 per cent higher than the revised target for 2013-14.
There are various estimates of India's debt to GDP ratio, but the consensus is that that it would be over 80 per cent at the end of the current fiscal year.
The RBI governor-designate may be economical with spoken words, but is known for his sharp and critical writings
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