Moody's upgrades India rating outlook to positive

Published By : Admin | April 9, 2015 | 13:51 IST
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Moody's ratings revised India's sovereign rating outlook to "positive" from "stable" on Thursday as it expects the actions by policymakers will enhance the country's economic strength in the medium term.

Moody's also said that it expected structural advantages, supported by relatively benign commodity prices and liquidity conditions globally, will keep India's growth above its peers over the rating horizon.

The outlook revision was announced before Indian markets opened on Thursday. Analysts said they expected bank stocks to rise and the rupee to strengthen on the upgrade.

The investor-friendly Narendra Modi government, which came to power last May promising faster growth, more jobs and quick clearances, has taken measures to fast-track clearances for investment projects, boost infrastructure investment and remove policy uncertainty in mining and coal sectors.

The government has also relaxed foreign investments in sectors such as defence, insurance, e-commerce, railways and eased steps to allow businesses to acquire land and set up factories.

"India's policymakers are establishing a framework that will likely allow India's growth to continue to outperform that of its peers over medium term and improve India's macro-economic, infrastructure and institutional profile," Moody's said in its statement.

Moody's has a Baa3 rating on India.

After a recent revision in the methodology of measuring gross domestic product, which raised a lot of scepticism from policymakers including government and central bank officials, India registered growth of 7.5 percent in the December quarter, higher than China's.

Read more: http://in.reuters.com/article/2015/04/09/india-moody-s-idINKBN0N004S20150409

 Courtesy: REUTERS

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PM salutes people associated with vaccination drive on completion of 1 Year of Vaccine Drive
January 16, 2022
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PM lauds role of doctors, nurses and healthcare workers for vaccination drive

The Prime Minister, Shri Narendra Modi has saluted each and every individual who is associated with the vaccination drive on completion of 1 year of vaccine drive. The Prime Minister has lauded the role of doctors, nurses and healthcare workers for vaccination drive. He also said that India's vaccination programme has added great strength to the fight against COVID-19.

In response to a tweet by MyGovIndia, the Prime Minister, in a series of tweets said;

"Today we mark #1YearOfVaccineDrive.

I salute each and every individual who is associated with the vaccination drive.

Our vaccination programme has added great strength to the fight against COVID-19. It has led to saving lives and thus protecting livelihoods.

At the same time, the role of our doctors, nurses and healthcare workers is exceptional. When we see glimpses of people being vaccinated in remote areas, or our healthcare workers taking the vaccines there, our hearts and minds are filled with pride.

India’s approach to fighting the pandemic will always remain science based. We are also augmenting health infrastructure to ensure our fellow citizens get proper care.

Let us keep following all COVID-19 related protocols and overcome the pandemic."