Moody's: India's Budget 2013 'realistic' and positive for ratings
India's fiscal consolidation plans could pave the way for monetary easing, thus helping revive economic growth, Moody's added.
"This plan of modest fiscal consolidation is credit positive for the sovereign because against a backdrop of subdued GDP growth and upcoming elections, it is a realistic effort to correct India's macroeconomic imbalances," Moody's said in its report.
Moody's is the only rating agency, of the three major credit agencies, to have maintained its "stable" outlook on India's ratings. Standard & Poor's and Fitch have the country with a "negative" outlook.
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