India gets a bad appraisal: S&P revises outlook to ‘negative’

Global ratings agency Standard & Poor's on Wednesday revised the outlook on India's long term sovereign rating to 'negative' from 'stable' - a thumbs down that could adversely affect the way foreign investors view India. S&P's decision questions the India story by citing its sliding growth numbers. It also cites the high fiscal deficit, a growing debt burden and the government's inability to push through economic reforms.

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