Fitch says fiscal prudence unlikely to impact India’s sovereign rating

Fitch expects India's sovereign rating to remain unchanged despite the government's efforts for fiscal consolidation. The general government debt is projected to stay above 80% of GDP over the next five years, with a deficit reduction target of 4.5% by FY26. Fitch's forecast indicates a deficit ratio of 5.1% in FY25, and GDP growth of 6.5%. The government's focus on capex investment is expected to support the growth outlook in FY25, with a planned expenditure of Rs 11.11 lakh crore, representing a 16.9% increase from FY24's revised estimates.
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