In a huge sentiment booster for India, global rating agency Standard & Poor's on Friday revised India's credit outlook to "stable" from "negative", acknowledging the improvement in the country’s economic environment. Though the agency has maintained its rating at BBB-, the revision in outlook will definitely boost the sentiments. India registered its fastest growth in nine quarters between April and June 2014. The new government led by Prime Minister Narendra Modi has vowed to keep the fiscal deficit under control at 4.1 percent of GDP.
Friday 26 September 2014
S&P upgrades India's credit outlook to 'stable'
In a huge sentiment booster for India, global rating agency Standard & Poor's on Friday revised India's credit outlook to "stable" from "negative", acknowledging the improvement in the country’s economic environment. Though the agency has maintained its rating at BBB-, the revision in outlook will definitely boost the sentiments. India registered its fastest growth in nine quarters between April and June 2014. The new government led by Prime Minister Narendra Modi has vowed to keep the fiscal deficit under control at 4.1 percent of GDP.
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