S&P warns India on ratings
Standard & Poor’s Ratings Services on Friday said that there was a one in three chance of a downgrade of the country’s rating within the next 12 months. The global rating agency said that it may lower the rating if the government reforms introduced in Septem-ber fail to lead to a recovery of economic growth to levels experienced earlier this decade.
Similarly, if India’s general government fiscal or current account deficits “worsen contrary to our expectations, we may lower the ratings,” said S&P credit analyst Takahira Oga-wa. The government, meanwhile, said it will continue to do what is necessary to keep India on a stable growth path.
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Liaquat gets bail, court sees no link
Age Correspondent
New Delhi, May 17
The special NIA court on Friday granted bail to suspected Hizbul Mujahideen militant Liaquat Shah, saying the NIA’s investigation “confirms” there is no substantial linkage regarding his involvement in the conspiracy to carry out terror attacks in the national capital. This is perhaps the first time that an accused has been granted bail in a case being investigated by the NIA.
During an in-chamber hearing, district judge I.S. Mehta said, “No substantial evidence has come up against the present petitioner till date and the prosecution/NIA has failed to make out a prima facie case against the present petitioner/accused till date... Further, the NIA investigation also confirms the same.” Bail was granted on a personal bond of `20,000 with one surety of like amount and conditions were imposed on his travel abroad.
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