Moody’s Investors Service said India could prune its capital expenditure to avoid any slippage of its fiscal deficit target of 3.3% of GDP in the current fiscal, but warned any reduction in the excise duty on petroleum products would exert negative pressure on the country’s sovereign credit profile. On the revenue side, Moody’s sees some downside risk to the government’s assumptions on the collections from the goods and services tax (GST) and petroleum products excise duty.

(Financial Express)