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The US-based rating agency, Moody’s Investor Service, is out with its latest review report on the Indian economy, in the wake of the recent Indian economic survey and the Federal Budget.

Key Highlights:

Achieving India’s goals of lower fiscal deficit target for fiscal 2020, while maintaining growth, income support “very challenging”.

Expect Indian economy to grow relatively slowly.

700 bln rupee recapitalization of Indian state-owned banks will support growth.

There’s a risk India could miss its deficit target for fiscal 2019 if income from tax revenue underperforms projections.

Achieving India’s goals of lower fiscal deficit target for 2019.