New Delhi, Dec 3 (SocialNews.XYZ) Economic Affairs Secretary Atanu Chakraborty on Tuesday said that S&P has reaffirmed sovereign rating of India at BBB- with a stable outlook.
In a series of tweets, he said: "...They have stated that India's economy continues to achieve impressive long-term growth rates despite a recent deceleration..
"S&P expects the Indian economy to continue to out-perform its peers and that the growth will remain strong over the next 2 years."
Last month, Moody's cut India credit rating outlook to negative, citing a host of problems from a worsening shadow banking crunch and a prolonged slowdown in the economy to rising public debt.
The sharp slowdown in growth and a surprise corporate tax rate cut is expected to put government finances under added pressure this year.
S&P maintained its outlook on India despite 4.5 per cent GDP growth in Q2, the lowest in last six years.
Source: IANS
About Gopi
Gopi Adusumilli is a Programmer. He is the editor of SocialNews.XYZ and President of AGK Fire Inc.
He enjoys designing websites, developing mobile applications and publishing news articles on current events from various authenticated news sources.
When it comes to writing he likes to write about current world politics and Indian Movies. His future plans include developing SocialNews.XYZ into a News website that has no bias or judgment towards any.
He can be reached at gopi@socialnews.xyz