Saturday, February 2, 2019

Moody's says budget is credit negative

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Rating agency Moody's says that the inability to meet fiscal deficit target for four consecutive years as a big "credit negative" for the sovereign and  doubted if the country will meet even the 3.4 per cent fiscal gap target for FY 20. 

The agency said in the Interim Budget there is an absence of new policies to boost revenues but has many measures leading to higher expenditure which though will increase consumption will also increase the fiscal burden. 

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