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India Likely to Miss 2012-2013 Fiscal Deficit Goal - 0 views

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subsidies india deficit economy fuel fertilizer

shared by Christopher P on 07 Nov 12 - No Cached

Christopher P on 07 Nov 12

A new poll shows that India's economic recovery may not go according to plan. The country aimed this year to keep the fiscal deficit at 5.3% of Gross Domestic Product, .5% lower than last year's. Reuters polled 21 different economists to get their opinion on the matter, and most agree that India's higher spending on fuel and fertilizer subsidies could keep the country from reaching its new goal. Because of this, it seems likely that India's credit rating will soon be downgraded from BBB- to a "junk-bond" status.

<div class="cArrow"> </div><div class="cContentInner">A new poll shows that India's economic recovery may not go according to plan. The country aimed this year to keep the fiscal deficit at 5.3% of Gross Domestic Product, .5% lower than last year's. Reuters polled 21 different economists to get their opinion on the matter, and most agree that India's higher spending on fuel and fertilizer subsidies could keep the country from reaching its new goal. Because of this, it seems likely that India's credit rating will soon be downgraded from BBB- to a "junk-bond" status.</div>

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