India needs to improve fiscal deficit for ratings upgrade – S&P analyst

MUMBAI (Reuters) – India needs to lower its debt to GDP ratio and materially lower its fiscal deficit for a ratings upgrade, Kyran Curry, S&P director, sovereign ratings in Asia, told Reuters after the federal budget was announced earlier on Monday. The country’s debt to GDP ratio falling to below 60 percent would bring a “clear upside” to the sovereign ratings, Curry said. It currently stands at 67 percent. “We will really be looking for material gains in the