Standard & Poor's reportedly said the budget would not have an impact on India's sovereign ratings until the agency could see how the measures will be implemented.
"We think the budget is favourable to credit fundamentals to the extent that fiscal debt," Agost Benard, an associate director, at Standard & Poor's Ratings Services reported.
Finance Minister Arun Jaitley said that the government would stick to the fiscal deficit target of 4.1% of GDP for the year ending March 2015.
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