Standard and Poor's may upgrade India's outlook if the government that is elected next month addresses some of the country's fiscal and economic challenges through steps such as passing a goods and services tax.
"If in the future they implement policies that effectively addresses some of the credit weaknesses that I have highlighted, we could revise the outlook to stable again," said S~~amp;amp;P senior director Kim Eng Tan in a webcast.
"In the absence of effective policy action, we could lower the ratings on the sovereign," he added.
India's ratings to depend on next governement economy, fiscal policies: S~~amp;amp;P
S~~amp;amp;P rates India at "BBB-minus" and is the only of the three major credit agencies to have a "negative" outlook.