Fitch cuts down on India’s credit rating outlook

After Standard and Poor’s another global rating agency Fitch degraded India’s credit rating outlook to negative. As per Fitch:

• corruption, inadequate reforms, high inflation and slow growth are major reasons behind the fall in ratings
• sluggish growth and rising inflation in combination with corruption and lack of economic reforms are major the deteriorating agents
• the economic outlook may further deteriorate if structural reforms are not quickly introduced, including measures to improve the efficaciousness of the government and create a conducive operational environment investments

Month: Current Affairs - June, 2012