Moody’s India Rating Arvind Subramanian welcomes upgrade call it long overdue




Chief Economic Advisor Arvind Subramanian on Friday welcomed India rating upgrade by Moody’s saying It was “long overdue.’’ Moody’s Investor service upgraded India’s sovereign rating from Baa3 to Baa2 with a stable outlook, after 13 years. Subramanian hoped other agencies like S and P and Fitch follow suits. Finance secretary Hasmukh Adhia, taking to twitter, said The path that government has chosen for long term reforms and fiscal consolidation is well recognized by Investor already. The rating agency too has now confirmed it formally, which is welcome. Economic Affairs secretary Subhash Chandra Garg hailed the move as well saying The fiscal deficit consolidation debt control and all so everything which the government has done in the past couple of years have been recognized. They are projecting a little rise in the trajectory going forward, so they are conscious of the real dynamics of the debt situation.

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