Challenging for Modi's coalition government to pass bigger reforms, Moody's

India's fiscal deficit glide path for 2025-26 is reasonable, but a coalition government may challenge necessary economic reforms, according to Moody's Ratings. Prime Minister Modi's BJP, lacking an outright majority, now depends on regional parties to govern. Finance Minister Sitharaman announced $576 billion in spending plans, focusing on manufacturing, job creation, and rural development.