We expect India's fiscal position to improve over the next few years and its economy to maintain strong growth momentum. We revised the outlook on India to stable from negative. We affirmed the 'BBB-' long-term and 'A-3' short-term sovereign credit ratings on India. On March 18, 2010, Standard&Poor's Ratings Services revised the outlook on the Republic of India to stable from negative. At the same time, we affirmed the 'BBB-' long-term and 'A-3' short-term sovereign credit ratings on India. The revision in outlook reflects our view that India's fiscal position could now begin to recover and that its economy will remain on a strong growth path. The government budget targets a general government (including central and state governments)
