Support for India ratings has weakened somewhat: S&P

Last Updated: Fri, Mar 15, 2013 08:46 hrs

The economic support for India's sovereign ratings has weakened "somewhat" given the sluggish growth in Asia's third largest economy, Kim Eng Tan, senior director of Asia-Pacific Sovereign Ratings at Standard & Poor's said in a webcast on Friday.

Tan also said the recently unveiled government budget showed "fiscal prudence", but higher spending targets posed a risk, in comments similar to its report last month.

India's economic expansion has slowed dramatically from more than 9 percent in early 2011 to just 4.5 percent in the October-December quarter of 2012.

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