Standard and Poors' latest look at India 2 Nov

  • improvements in policy making continue to strengthen the prospects for India's economic and fiscal performance
  • wide fiscal deficits, heavy debt burden and low per capita income detract from sovereign credit file
  • the outlook balances India's sound external position, inclusive policymaking tradition against vulnerabilities stemming from low capita income
  • external position remains a credit strength
  • expects 2016 GDP at +7.9% and 8% ave over 2016-2018
  • India's growth outperforms its peers and is picking up modestly
  • expects India to record a moderate current account deficit of 1.4% in 2016

Upbeat assessment but understandably throwing some caution in too.