<div>India's narrowing current account deficit will not be enough to shield the country from pressures tied to Fed tapering, says Fitch Ratings.</div><div> </div><div>However, Fitch adds the spillover effects of the Indian rupee's weakness have not significantly hurt India's credit worthiness and will therefore not trigger any ratings action at this point.</div><div> </div><div>"(India's ratings) already incorporate both the sovereign's vulnerabilities and tolerance for volatility in global financial market conditions," Fitch said.</div><div> </div><div>Fitch adds India's economy has "not lost much momentum" on the back of "resilient" agriculture and exports, predicts economic growth of 4.8 per cent in 2013/14 and 5.8 per cent in 2014/15.</div><div> </div><div>Fitch also notes India's fiscal deficit remains under pressure, especially ahead of the general elections due next year, but says the government is likely to clam down heavily on spending.</div><div> </div><div>Fitch rates India at "BBB-minus", the lowest investment grade rating. It revised its outlook for the country to "stable" from "negative" in June.</div><div> </div><div>(Reuters)</div>
