Pace of fiscal consolidation key to India ratings upgrade – S&P

By Rajesh Kumar Singh
NEW DELHI (Reuters) – The pace of India’s fiscal consolidation is vital to the country’s prospects of a ratings upgrade, Standard & Poor’s told Reuters on Wednesday, flagging its concerns over high and rising debt levels.
The comments from S&P’s India analyst Kyran Curry come as Finance Minister Arun Jaitley faces pressure to cut taxes and hike spending in his annual budget next week – even at the cost of an earlier promise to tr