Will downgrade rating if Indian economy doesn't show recovery: S&P

S&P said India's fiscal metrics, including its fiscal deficit, annual change in net general government indebtedness, and net government debt stock, were weak

S&P Global Ratings on Thursday forecast India’s 2019-20 gross domestic product (GDP) to grow at 5.1 per cent and warned of a rating downgrade if an economic recovery does not happen.

This comes just days after the agency reiterated its rating and outlook for the country and a month after Moody’s cut its sovereign credit outlook for India. S&P currently has a ‘BBB-’ rating with a ‘stable’ outlook.

In a ‘Frequently Asked Questions’ note on India, S&P said the country’s long-term economic outperformance remained intact, despite the agency’s relatively weaker growth expectations for this fiscal year. “We are forecasting real GDP growth