S&P warned about spending on subsidies and heavy government debt.
Global credit rating agency Standard & Poor's on Thursday said India's economic growth may fall marginally to 7.5-8 per cent, but inflation outlook remained stable at 5-5.5 per cent in 2007.
International rating agency Standard & Poor's has become the majority shareholder of Indian credit rating agency Crisil Ltd with 58.5 per cent stake, after it acquired 49.07 per cent shares during its recent open offer.
While the economy seems to be on a firm growth path, the fight against inflation is not over yet. Shaktikanta Das seems to be in no hurry. After playing well through a five-year Test match, he doesn't want to get out hit wicket, observes Tamal Bandyopadhyay.
Standard & Poor's Ratings Services, the international rating agency, has said that India is the second-fastest growing economy in the world with an average growth rate of more than 8 per cent over the past three years.
Competition in the cellular market, including the capital, could soon be hotting up with the Department of Telecom clearing a proposal to issue letter of intent to mobile operator Aircel in eight of the 11 circles it had applied for licences.
International rating agency Standard & Poor's on Monday said India's rating can improve if the new government reduces fiscal deficit and continues reforms to maintain a high economic growth.
Global rating agency Standard & Poor's on Tuesday announced that it intends to become a majority shareholder in CRISIL Ltd by making a voluntary conditional open offer of Rs 680 per share.
India has emerged as the brightest spot in the Asia Pacific region as reform has picked up pace in the country in recent months, a top credit rating agency has said.
Growth in the Asia-Pacific region will be low, the aqency said
Weak economy and high interest rates in India, which have adversely affected cash flows and debt-servicing ability, have prompted the companies to improve their financial profiles.
The economy is projected to clock 7.4 per cent growth.
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The rupee had slumped to a record low of 59.9850 rupee to the dollar on Thursday, as the country's record high current account deficit is exacerbating its vulnerability in an emerging market rout.
Growth in India's gross domestic product for the June quarter of 2013-14, as well as for the entire 2014-15, was 4.7%.
The official said the finance ministry will impress upon rating agencies the resolve of the government to contain fiscal deficit at 4.1 per cent this year and lower it to 3 per cent by 2016-17.
Gandhi also attacked Prime Minister Narendra Modi over the economic situation in the country, saying the PM should get his head "out of the sand" to deal with the problem facing the country.
The central bank will come out with fresh set of guidelines for companies applying for on-tap bank licence
India plans to phase in cash transfers of food and kerosene subsidies from September, saving 10-15 per cent of the $21 billion in annual outlays on the benefits by eliminating fraud, a senior finance ministry official said on Thursday.
S&P said Indian technology players will continue to grow at a slightly slower pace over the next two to three years due to technological disruptions.
The new government, which will be required to boost investments and promote growth, will be presenting a regular Budget after completion of the electoral process.
The rupee had ended 13 paise higher at 60.92 against the greenback in Wednesday's trade following sustained dollar selling by exporters.
Crisil Real Estate Ratings provide city specific all-round assessment of real estate projects and help buyers benchmark and identify quality projects within their cities.
The rupee had retreated from three-week high and ended six paise down at 60.67 against the dollar on demand from importers for the US currency in Thursday's trade.
Global rating agency Standard & Poor's today said 2014 will continue to be a challenging year for the asset quality and profitability of the country's banks as the economy is expected to make a tepid recovery.
Global rating agency Standard & Poor's said the government's decision to increase domestic gas prices is likely to benefit two major gas producers Oil and Natural Gas Corp (ONGC) and Reliance Industries Ltd (RIL).
The 30-share Sensex ended down 261 points at 28,747 and the 50-share Nifty ended down 83 points at 8,684.
The apex court had observed that the allocation was arbitrary, illegal, and resulted in unfair distribution of national wealth.
The rupee had recovered by 19 paise to close at 61.15 against the dollar in Friday's trade in tune with local equities.
The gross NPAs of some public sector banks, including State Bank of India and Punjab National Bank have crossed 4 per cent of the total assets at the end of March, 2013.
Rating agency expects current account deficit to remain at a modest 1.4% at end of FY16 and stay at similar level till 2018
Most private companies are not initiating large projects.
The country's merchandise deficit narrowed to $9.2 billion in November, but exports growth eased to 5.9 percent from 13.5 percent in October, government data showed.
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