India faces challenges to stable rating outlook:
India is facing challenges to keep its stable rating outlook with high inflation, weak fiscal position and slower economic growth weighing, Standard & Poor's rating service said on Monday.
Rating agencies tend to have a herd mentality when it comes to a pessimistic outlook on a country which explains why Standard and Poor's and Fitch have downgraded their outlook for the Indian economy, Chief Economic Advisor to the Ministry of Finance Kaushik Basu said today.