![]() India missed its fiscal deficit target for the year ended March even before the worst of the coronavirus hit the economy, with economists seeing the budget sliding deeper into the red this year. ![]() The stress also to the financial system “could lead to a more severe and prolonged erosion in fiscal strength than Moody’s currently projects.” “The negative outlook reflects dominant, mutually-reinforcing, downside risks from deeper stresses in the economy,” Moody’s said.
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