In his government's maiden Budget speech on Thursday, Jaitley said on Thursday the government would stick to a fiscal deficit target of 4.1 percent of gross domestic product (GDP) set by the previous government for the year ending March 2015.
"From a ratings perspective, it is mildly positive to see there's a roadmap, but the lack of details gives us pause," Moody's sovereign rating analyst Atsi Sheth said in a phone interview.
"The intent appears to be there, but the measures have not been really thought through yet," Sheth added.
Moody's currently rates India at "Baa3", the lowest investment-grade rating, with a "stable" outlook.
Sheth added the fiscal deficit target could also be hard to achieve.
"If growth does not revive in the second half of the year, then I do think either they will have to be a very concerted effort at expenditure reduction or it will be missed by a couple of decimal points," Sheth said.