Moody's upgrades India rating outlook to positive

Published By : Admin | April 9, 2015 | 13:51 IST

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: https://in.reuters.com/article/2015/04/09/india-moody-s-idINKBN0N004S20150409

 Courtesy: REUTERS

Explore More
78ਵੇਂ ਸੁਤੰਤਰਤਾ ਦਿਵਸ ਦੇ ਅਵਸਰ ‘ਤੇ ਲਾਲ ਕਿਲੇ ਦੀ ਫਸੀਲ ਤੋਂ ਪ੍ਰਧਾਨ ਮੰਤਰੀ, ਸ਼੍ਰੀ ਨਰੇਂਦਰ ਮੋਦੀ ਦੇ ਸੰਬੋਧਨ ਦਾ ਮੂਲ-ਪਾਠ

Popular Speeches

78ਵੇਂ ਸੁਤੰਤਰਤਾ ਦਿਵਸ ਦੇ ਅਵਸਰ ‘ਤੇ ਲਾਲ ਕਿਲੇ ਦੀ ਫਸੀਲ ਤੋਂ ਪ੍ਰਧਾਨ ਮੰਤਰੀ, ਸ਼੍ਰੀ ਨਰੇਂਦਰ ਮੋਦੀ ਦੇ ਸੰਬੋਧਨ ਦਾ ਮੂਲ-ਪਾਠ
PLI Scheme Creates 5.84 Lakh Direct Jobs; Pharma, Phones, Food Lead

Media Coverage

PLI Scheme Creates 5.84 Lakh Direct Jobs; Pharma, Phones, Food Lead
NM on the go

Nm on the go

Always be the first to hear from the PM. Get the App Now!
...
Share your ideas and suggestions for 'Mann Ki Baat' now!
December 05, 2024

Prime Minister Narendra Modi will share 'Mann Ki Baat' on Sunday, December 29th. If you have innovative ideas and suggestions, here is an opportunity to directly share it with the PM. Some of the suggestions would be referred by the Prime Minister during his address.

Share your inputs in the comments section below.