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The government’s reform initiatives have unlocked Indian “economy’s dynamism” but weak public finances continue to remain a strain on any rating upgrade, global ratings firm Fitch said today.
Fitch said it had on April 9 affirmed India at BBB-/Stable rating.
“Government reforms have helped to unlock the economy’s dynamism. However, weak public finances continue to constrain the ratings,” Fitch said in a Asia-Pacific Sovereign Overview 2Q’15 report today.
“Measures to strengthen the revenue base remain lacking,” it added.
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