Wider fiscal deficit, consolidation could pressure India's ratings: Fitch

Wider fiscal deficits and a more gradual pace of consolidation will lift the Indian government's debt and pressure its sovereign ratings, Fitch Ratings said, cautioning that the fiscal firepower is limited due to a high debt ratio. Finance Minister Nirmala Sitharaman said the current year fiscal deficit will touch 9.5% of GDP, much higher than the budgeted 3.

5% and sharply above analyst estimates of around 7%. The government has also projected a deficit of 6.5% for the next fiscal year starting April and said it would reach.

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