S&P holds India sovereign rating, says govt debt burden a constraint

Standard & Poor's retained its sovereign rating on India despite the government sticking to its fiscal deficit target in Monday's budget as it waited for further improvement in public finances. S&P said it would wait for the government to improve its net debt and fiscal consolidation and does not expect to change India's BBB- rating with a 'stable' outlook until next year. "The government's debt burden and subsidy spending continue to significantly constrain its fiscal policy options," S