Moody's today said the India's sovereign rating outlook depends on the depth and extent of current slowdown along with trends in the balance of payment situation, and noted that the country's inflation and fiscal metrics are weaker than its emerging market peers.

In a presentation, Moody's analyst Atsi Seth said the slowdown appears steeper for the country with inflation and fiscal metrics weaker than its emerging market peers. "Higher subsidy burden and lower growth will weaken fiscal metrics," it further said.