{Education} Article: Problem, Reason and Solution for Indian Fiscal Deficit

• The government has outlined the strong fundamentals of the economy and said it was committed to rein in fiscal deficit within the target of 5.3% of gross domestic product.
• The government is battling hard to avert a ratings downgrade from the rating agencies like Moody or S&P and has taken a series of measures to demonstrate its commitment to economic reforms. 
• Finance Minister had a meeting with the officials of Moody. The meeting comes a day after another ratings agency Fitch cautioned that a loosening in fiscal policy ahead of the 2014 elections could further weaken India's public finances and put pressure on ratings.
• It also warned that policy slippage or mounting evidence of a structural decline in the trend growth rate, such as protracted weak economic data, could cause the ratings to be downgraded.