S&P sees `significant challenges` for India`s revenue budget

S&P sees 'significant challenges' for India's revenue budget projections

Last Updated: Fri, Mar 15, 2013 07:30 hrs
The Standard and Poor's building in New York

India will face "significant challenges" to meet its budgeted revenue growth projections, especially if there is "any further shock" to economic growth, Kim Eng Tan, senior director of Asia-Pacific Sovereign Ratings at Standard & Poor's said in a webcast on Friday.

However, Tan also said India's revenue projection was not "entirely out of reach," seeing "a fair chance" that the budget deficit target of 2013/14 can be met.

India aims to cap its deficit at 4.8 pct in the fiscal year starting in April.

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