S&P: India view stable

Standard & Poor's said it revised the outlook on the Republic of India to stable from negative and affirmed the BBB- long-term and A-3 short-term sovereign credit ratings on India.

The outlook revision reflects that India's fiscal position could now begin to recover and that its economy will remain on a strong growth path, the agency said.

The government budget targets a general deficit of 8.3% in the fiscal year ending March 31, 2011, up from 9.8% in the previous fiscal year, S&P said.

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