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What was the Moody’s rating for India for past 13 years? Is it now boost for Modi's Govt.




Narendra Modi, Prime Minister of India got some good news from rating agency Moody’s, as the agency appreciated to the Indian Government’s reforms by updating the rating of India after 13 years.  Moody’s upgraded its rating to India from BAA3 to BAA2 for its miserable increase of India by its reforms.  Also they updated their rating from P-3 to P-2 in respect of local short duration currency rating of India.

The Moody’s Investor Services opined that, the production and productivity of commercial sectors will increase with the effect of reforms in the country.  They also changed the outlook rating of India from “Stable” to “Positive”.  Especially, the Moody’s have appreciated the financial reforms like GST (Goods and Service Tax), which implemented by Indian Government recently.  They opined that, the constraints, which faced by the states in the country will be resolve with the GST implementation in India.

The Moody’s also expressed its view that, “unfortunately, the heavy amount of interest on India wil be the main constraint”.  The rating agency also said that, the risks by heavy amount of interest on India will be reduced in future by speeding up of their reforms”.  

Moody’s expected to predict the GDP increase rate in India will be 6.7% in current financial year i.e. 2017-18, as the GDP increase rate recorded in previous year i.e. 2016-17 was recorded as 7.1%.

The Moody’s rating and its appreciation will become boost to the Indian Government, who presently suffering with some negative propaganda by its opposition parties like Congress, CPM and CPI, etc and also this update will be fetch positively to Mr. Narendra Modi for the results of his Government’s reforms.





Tags: moody’s, rating, modi, government, india, reforms.

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