Money > Budget > Budget News & Analysis FEBRUARY 5, 2002 I 14:25 IST rediff.com
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Fiscal reforms seen hard in Budget: Moody's

John Rutherfurd, president and CEO, Moody's Corporation. Photo: Jewella C. Miranda The chief executive of Moody's Corporation on Tuesday said he was not optimistic of India pushing fiscal reforms in the Budget due at the end of the month.

"This is probably a difficult time to expect very aggressive moves of the sort we have always indicated and want to see eventually," John Rutherfurd, president and chief executive officer of Moody's Corporation, the holding company of Moody's Investors' Services, told a news conference.

"Governments have to do what is necessary in times of general economic slowdown."

He said Moody's was concerned that the fiscal deficit was likely to touch double digits in the current year.

"We are concerned about the deficit as a percentage of GDP and the burden it places on fiscal and monetary policy," he said.

Reuters

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