India ratings upgrade by Moody’s validates govt agenda: CEA Arvind Subramanian

By: |
New Delhi | Updated: April 9, 2015 3:55:57 PM

The finance ministry's chief economic adviser Arvind Subramanian welcomed the upgrade in India's investment outlook to "positive" by global rating agency‎ Moody's...

india, economic growth, Moodys, Moody's upgrades India's rating, economy, atsi Sheth, sovereign rating, indian economy, liquidity, indias outlook, indias outlook moodys, Baa3 rating, Baa3 rating moodys, Baa3 rating indias outlook, indias outlook positive, moodys indias outlook positive, economy news, Arvind Subramanian, economic policy, inflation rate, chief economist adviserThe finance ministry?s chief economic adviser Arvind Subramanian welcomed the upgrade in India?s investment outlook to ?positive? by global rating agency‎ Moody?s. (PTI)

Welcoming the upgrade in India’s investment outlook to “positive” by global rating agency‎ Moody‘s, the finance ministry’s chief economic adviser Arvind Subramanian said it validates the government’s reform agenda.

“It confirms the fact that growth and macro-economic prospects of the country are improving,” he told reporters, adding that it also validates the strategy outlined in the Union Budget to increase public spending.

(Also Read: Moody’s changes India’s outlook to positive, affirms Baa3 rating)

Hoping for an outlook in India’s rating as well, the CEA however said the focus of the government ‎will be on what is required to improve growth.

Maintaining that the inflation target of 5 percent to 5.5 percent for the year end will be met, Subramanian said the unseasonal rains that have resulted in crop damage will be a “temporary blip” on food prices.

He also said that the fiscal deficit target of 3.9 percent of the GDP for 2015-16 is more plausible.

For Updates Check Business News; follow us on Facebook and Twitter

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Switch to Hindi Edition