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  1. Moody’s India ratings upgrade: FM Arun Jaitley reveals what the next step is for PM Narendra Modi government

Moody’s India ratings upgrade: FM Arun Jaitley reveals what the next step is for PM Narendra Modi government

Making India a less cash-dependent country and bringing formalisation and digitisation to the economy will only help. (Moody's) reports are based on deeper analysis and not on political expediency.

Published: November 18, 2017 6:33 AM
Finance Minister Arun Jaitley (PTI)

On upcoming thrust area after rating upgrade by Moody’s

An emphasis on implementation and on reaping the benefits of the growth process in terms of expenditure on infrastructure building. A lot of expenditure on rural areas to improve the quality of life there.

On GST and demonetisation being hailed by Moody’s

Much of the criticism (of demonetisation and GST) didn’t originate from deep analysis. Moody’s commentary has more value… GST has broadened the market for all businesses in India and barriers and tax inspectors have been done away with. Even the rates have come down from pre-July level. Further rationalisation in GST is ongoing and an improved ecosystem will benefit businesses. Making India a less cash-dependent country and bringing formalisation and digitisation to the economy will only help. (Moody’s) reports are based on deeper analysis and not on political expediency.

On political benefit from ratings upgrade

We don’t want to link it (ratings upgrade) with elections as there are 3-4 elections in a year. If we relate everything with elections then we won’t be able to take stable decisions.

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