HomeBusinessInflation Is Likely To Remain High In India: Standard and Poor's

Inflation Is Likely To Remain High In India: Standard and Poor’s

Inflation Is Likely To Remain High In India: Standard and Poor's

Standard and Poor’s has stated that India’s financial progress will stay robust in coming quarters

India’s financial progress will stay robust within the coming quarters whereas inflation is prone to stay at elevated ranges, analysts at Standard and Poor’s (S&P) stated on Wednesday.

S&P has a ‘BBB-‘ ranking with a steady outlook on India.

The economic system is predicted to clock 9.5 per cent progress within the present fiscal yr, adopted by 7 per cent growth within the subsequent yr, it stated, including excessive nominal GDP progress can be essential for making certain fiscal consolidation going ahead.

“Given India’s weak fiscal settings and high stock of debt around 90 per cent of GDP, the nominal GDP growth is going to be very important to prevent any further erosion of fiscal settings in the country and to enable some degree of fiscal consolidation going forward,” S&P Global Ratings Director (Sovereign) Andrew Wood stated.

He stated the fiscal deficit would stay elevated over the following two years however debt to GDP ratio is predicted to stabilise or flatten out.

Mr Wood additional stated India’s exterior place has strengthened within the context of the pandemic and India has been producing foreign exchange reserves at file tempo.
 

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