02-27-2009, 12:20 PM
<b>Indiaâs Economy Expands 5.3%; Slowest Pace Since 2003 </b><!--QuoteBegin-->QUOTE<!--QuoteEBegin-->Standard & Poorâs said Feb. 24 that the nationâs credit rating may be cut to junk as government debt is reaching a level thatâs ânot sustainable.â S&P reduced Indiaâs rating outlook to negative from stable.
Mukherjee said the rating companyâs move was ânot unexpected,â adding that the global downturn ârequires extraordinary steps from the government.â
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Mukherjee said the rating companyâs move was ânot unexpected,â adding that the global downturn ârequires extraordinary steps from the government.â
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