Revision in India`s rating outlook to positive reflects solid growth performance: FM Nirmala Sitharaman
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Finance Minister Nirmala Sitharaman has said that S&P Global Ratings' revision of its outlook on India from 'stable' to 'positive' is a welcome development. She said this reflects India's solid growth performance and a promising economic outlook for the coming years
The minister noted that it has been possible due to the series of macroeconomic reforms undertaken since 2014, along with substantial outlay for capex, fiscal discipline, and decisive and visionary leadership. She added that India is well on track to become the third-largest economy in the third term of the government and become a Viksit Bharat by 2047.
S&P Global Ratings upgraded India's outlook to positive, from stable. This is the first time that S&P has assigned a positive outlook on India's rating. S&P retained India's rating at lowest investment grade of 'BBB-'.
