S&P: For India, slowdown impact may be deeper, prolonged

In the event of a renewed slowdown in the US and Europe, the impact in India is likely to be “deeper” and “more prolonged”, since India's fiscal capacity has shrunk compared to pre-2008 levels, said Standard & Poor's Rating Services (S&P). Another global slowdown would require governments to use their fiscal capacities to support their economies and financial sectors once again, the rating agency said in a note.

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