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

Last Updated: Fri, Mar 15, 2013 07:30 hrs

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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