Why experts feel Moody's outlook downgrade for India is unjustified

India’s credit ratings outlook was cut to negative from stable by Moody’s Investors Service today, on concerns that the government will not be able to help revive economic growth. Moody’s cited the country's growing debt burden and the government’s struggle to contain the budget deficit.

Moody's has forecast a fiscal deficit of 3.7 per cent for financial year 2019-20 (FY20), which is higher than the government’s target of 3.3 per cent. The foreign currency rating was retained at Baa2, the second-lowest investment grade score.

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