Fitch Downgrades India’s Outlook To ‘Negative’

• Rooftop Travel. There has been a 36 per cent increase in the number of people travelling on the rooftops of trains on the main and harbour lines of the Central Railway in the first five months of 2012 as compared to the same period last year. Railway authorities have collected around Rs3.20 lakh in fines from 1,904 rooftop travellers till May of this year. [Hindustan Times]

• Piracy Ban. Following in the footsteps of a recent “John Doe” court order from the Madras High Court in May, the Bombay High Court has issued a similar injunction to prevent piracy of Anurag Kashyap’s film Gangs of Wasseypur, which releases this Friday, June 22. The order will prevent local cable operator Sonali Cable Vision Pvt Ltd and Internet service provider Spectranet Limited, and Mr. John Doe (Ashok Kumar) standing for unknown defendants, from pirating the movie. [Legally India]

• Rating Decrease. Another rating agency Fitch Ratings has downgraded India’s economic outlook from stable to negative, just months after Standard & Poor’s made a similar call. The agency cited the country’s poor governance and policymaking as reasons, estimating government debt as 66 percent of GDP at the end of the most recent fiscal year. India’s economy grew just 5.3 per cent in the quarter ending March, the weakest in nine years. [Reuters]