What we would look for is a gradual phasing out of the fuel subsidy and a more effective and coordinated policy response from the government and monetary authorities as and when shocks arise. Shocks such as high oil prices, a classic case of external shock, caught the government by surprise.
More Quotes from Agost Benard:
A resumption of full-scale hostilities could have negative implications for the country's already stressed fiscal and debt position, and likely impair its previously adequate level of external balances.Agost Benard
What is important is the process of charter change itself as well as the outcome, whether it will materialize or not, does not affect this policy making economic reforms, especially fiscal consolidation.
Agost Benard
The downward trend in deficit reduction must be continued to warrant an upgrade. Something must be done to increase revenues and not in decreasing expenditures. Its underlying trends and processes that really drive our view on credit ratings versus the actual numbers per se.
Agost Benard
In light of the bank's public policy role and the track record of strong support from the Indian government, Standard Poor's equalizes its ratings on India EXIM with those on the sovereign.
Agost Benard
The government will respond in a more prompt and appropriate way. They will be in a better position to handle whatever shock may come their way.
Agost Benard
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Based on Topics: Government QuotesBased on Keywords: phasing, subsidy
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