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India's public finances remain a weakness for credit profile, Fitch analyst says
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fiscal deficit targets are achievable but the government's financial metrics still remain a weakness for the South Asian nation's credit profile compared to peers, an analyst at Fitch Ratings said on Tuesday.
«Lowering of the deficit target to 4.9% from 5.1% of GDP is a clear signal of the government's commitment to deficit reduction,» Jeremy Zook, director — Asia sovereign ratings, told Reuters. «In our view, this seems relatively achievable.»
During Tuesday's annual budget, India's government announced plans to spend $24 billion to create jobs over the next five years and $32 billion on rural development this year alone.
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