Moody’s upgrade Sovereign Credit Rating of India to Baa2 from Baa3

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..... Moody’s upgrade Sovereign Credit Rating of India to Baa2 from Baa3 - News and Press Release Dated:- 17-11-2017 - News - Moody's Investors Service ( Moody's ) has upgraded the Government of India's local and foreign currency issuer ratings to Baa2 from Baa3 and changed the outlook on the rating to stable from positive. India s rating has been upgraded after a period of 13 years. India .....

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..... s sovereign credit rating was last upgraded in January 2004 to Baa3 (from Ba1). Government of India welcomes the upgrade and believes, as rightly noted by the Moody s that this is in recognition of major economic and institutional reforms undertaken by Government of India. These reforms include introduction of path breaking Goods and Services Tax (GST); putting in place a sound monetary policy .....

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..... framework; measures taken to address recapitalisation of public sector banks and a number of measures taken to bring formalisation and digitalisation (The JAM agenda) in the economy - demonetization, the Aadhaar system of biometric accounts and targeted delivery of benefits through the Direct Benefit Transfer (DBT) system. Moody s have also rightly recognized the Government s commitment to mac .....

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..... ro stability which has led to low inflation, declining deficit and prudent external balance and Government s fiscal consolidation programme which has resulted in a reduction of fiscal deficits from 4.5% of GDP in 2013-14 to 3.5% in 2016-17 and its consequential sobering impact on general government debt. Government intends to stay the course on fiscal consolidation in the medium term. - News - .....

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..... Press release - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

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