(Reuters) -
Fitch Ratings revised India's sovereign rating outlook to stable from negative on the back of measures taken by the government to contain the budget deficit, it said in a release on Wednesday.
Fitch expects the government to broadly meet its 2013/14 fiscal deficit target of 4.8 percent of the gross domestic product, it added.
It said inflation was showing signs of easing and the economic recovery is likely to remain slow until a healthier investment climate is created.
Fitch had put India on a negative outlook in June 2012, following S&P which just last month retained its negative outlook on the economy.
(Reporting by Swati Bhat and Subhadip Sircar; Editing by Sanjeev Miglani)
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