Fitch Ratings in a report has said that India remains committed to reducing the budget deficit over the medium term, despite its focus on higher public capex and demands of the coalition government. It said India has achieved or outperformed its budget deficit targets in the last few years, thereby improving its fiscal credibility.
The agency said India using RBI dividend to lower its fiscal deficit target for the fiscal year ending March 2025, reinforces its view that the country prefers fiscal consolidation over additional spending. It added still, India's deficit, and interest-to-revenue and debt ratios remain high compared with the 'BBB' category sovereign peers.
The rating agency said ‘...we believe its (India) government remains committed to reducing the budget deficit over the medium term, even amid the demands that governing in the coalition will impose on the newly elected administration - and despite the government's sustained focus on supporting economic growth through higher public capex’.
In the full Budget presented in July, the government lowered the fiscal deficit target to 4.9 per cent for the current financial year against 5.1 per cent estimated in February's interim Budget. In May, the RBI board approved a Rs 2.11 lakh crore dividend to the government for 2023-24 fiscal. Recently, Fitch Ratings affirmed India's sovereign rating at 'BBB-' with a stable outlook citing a strong medium-term growth outlook and solid external financing position.
MoneyWorks4Me rating and ranking of funds for SIP is available to subscribers only. Moneyworks4Me is not a rating and ranking agency, however it is required that users have a way of selecting funds and building a Portfolio. The method used by it are described below to enable users to understand the logic behind the rating and ranking Subscriber will find more details on this in the various content made available from time to time. In case you need more please write to besafe@moneyworks4Me.com
MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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