India's outlook cut unlikely to hurt capital inflows: Fin Min

The cut in outlook on India's sovereign rating by Standard & Poor's is unlikely to hurt capital inflows into the country, a senior finance ministry official said on Wednesday.

Updated: Apr 25, 2012, 13:31 PM IST

New Delhi: The cut in outlook on India's sovereign rating by Standard & Poor's is unlikely to hurt capital inflows into the country, a senior finance ministry official said on Wednesday.

India's long-term growth prospects still remain robust and the economy is better placed than several other nations despite the lowered outlook, the official, who didn't wish to be named, told reporters.

Earlier on Wednesday, S&P lowered its outlook on India's long-term sovereign rating to negative from stable due to slowing growth and a widening current account deficit, but retained the rating at BBB-.

Bureau Report