Moody's India rating out of sync with macro fundamentals: Official

While the ratings agency continues to say India's overall debt level remains way above that of similar-rated peers, strangely it doesn't adequately appreciate New Delhi's lower external debt level compared with others, a senior finance ministry official said. The official said the Centre's fiscal deficit dropped from 9.2% of GDP in FY21 to 6.4% in FY23.

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