'India's macro view favourable for stocks'

International rating agency Standard & Poor's (S&P) said India's macroeconomic view was favourable for stocks.

International rating agency Standard & Poor's (S&P) said on Thursday that India's macroeconomic view was favourable for stocks, although the fiscal deficit could pose a risk.

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"Some potential risk lies in the government deficit which has thus far been offset by a positive capital account, through foreign investment inflows," S&P said in its Asia Pacific Market Outlook for 2007.