Moody's rating upgrade certifies reforms are in right direction: Sebi chief

State Bank chairman Rajnish Kumar

Finance Minister Arun Jaitley on Friday said the government welcomes Moody's upgradation of India's sovereign rating. In addition, it has changed to stable from positive the ratings outlook for IRFC; EXIM India and its London branch; HDFC Bank, its Bahrain and Hong Kong branches; as well as SBI and its Hong Kong, London, and Nassau branches.

"Baa3" was the lowest rating in the investment grade - just a notch above the "junk" status. The Narendra Modi government has been pitching for an upgrade for quite some time now citing various reforms initiatives.

The global ratings agency, however, cautioned that high debt burden remains a constraint on the country's credit profile. Moody's had last upgraded the sovereign ratings of the country to Baa3 in 2004.

The agency said the reforms initiated by the Indian government could improve the business climate, productivity, stimulating foreign and domestic investment, and hence fostering strong and sustainable growth.

Moody's said the recently-introduced goods and services tax (GST), a landmark reform that turned India's 29 states into a single customs union for the first time, will boost productivity by removing barriers to inter-state trade.

Читайте также: Qualcomm Spurns $130B Broadcom Takeover Bid As Too Low

The upgrade is a recognition of the reform process in India, particularly in the last 3-4 years, in which structural reforms placed India on a high growth trajectory, he said.

Still, some market participants questioned the timing of the move.

He added that coming from an global agency, the recognition is a source of encouragement. "Moody's expects real GDP growth to moderate to 6.7% in the fiscal year ending in March 2018 (FY2017)", the agency said. It also claimed that India's growth potential superseded that of many other sovereign nations.

The agency said challenges from the implementation of the GST, continuing weakness in private sector investment, slow progress resolving banking sector asset quality issues, and lack of progress in land and labor reform remained key issues.

При любом использовании материалов сайта и дочерних проектов, гиперссылка на обязательна.
«» 2007 - 2018 Copyright.
Автоматизированное извлечение информации сайта запрещено.

Код для вставки в блог

Related News:

  • Danica Patrick Is Done With Full-Time Racing

    Danica Patrick Is Done With Full-Time Racing

    In 2005, Patrick became only the fourth woman to start the Indy 500, qualifying fourth, leading laps, and finishing fourth. But I definitely was faced with situations at the beginning of the year that I had never faced before.
    Rockwell Board To Respond To Emerson's Proposal In Due Course

    Rockwell Board To Respond To Emerson's Proposal In Due Course

    Rockwell shares leapt 8% to 204.00 in premarket trading on the stock market today , while Emerson shares were down 0.7% at 58.70. Telemus Capital LLC bought a new position in shares of Rockwell Automation during the second quarter worth about $201,000.
    Jeff Sessions: Not politically 'influenced' to review Clinton, Obama Russian uranium deal

    Jeff Sessions: Not politically 'influenced' to review Clinton, Obama Russian uranium deal

    Trump is frustrated with the continuing investigations into Russia's election meddling and possible ties to his campaign. Mr Sessions said on Tuesday that he doesn't challenge Mr Page's recollection, but doesn't remember the conversation.
  • Prime Minister Malcolm Turnbull back in Australia for #SSM survey results

    Prime Minister Malcolm Turnbull back in Australia for #SSM survey results

    While Prime Minister Malcolm Turnbull supports same-sex marriage , many in his right-wing government are opposed to the move. Debate on the Bill begins tomorrow and resumes when Parliament returns in the last week of this month.
    FBI Stats Show Rise in Hate Crimes Last Year

    FBI Stats Show Rise in Hate Crimes Last Year

    The latest statistics are based on voluntary reporting from almost 16,000 USA law enforcement agencies. The Washington Post reports that 55 percent of the targets for religious crimes were of Jewish faith.

    Star Wars Battlefront 2's Microtransactions are Bad Game Design

    If you think this sounds like a ripoff, you're not alone: players hate the economics of Battlefront 2 . In those outings, you paid for the game up front and it came with all the characters already unlocked.
  • Trump reverses elephant trophy ban

    Trump reverses elephant trophy ban

    The elephant population declined 6 percent overall in Zimbabwe but dropped by 74 percent within one specific region. Department of the Interior to remove barriers to sustainable use conservation for African wildlife", Babaz added.
    Trump Tweets Condolences for Wrong Mass Shooting, Prompting Backlash

    Trump Tweets Condolences for Wrong Mass Shooting, Prompting Backlash

    But instead of acknowledging the tragedy there, he name-checked the one in Sutherland Springs, Texas, which took place November 5. On Nov. 5, Trump tweeted almost the same thing about the shooting in Texas, where a gunman killed 26 people at a church .
    'Violent psychopath' captured in California after escaping from Hawaii hospital

    'Violent psychopath' captured in California after escaping from Hawaii hospital

    It's not clear under what circumstances Randall Saito was away from the facility in a Honolulu suburb. Tashima is concerned that Saito could commit the same "very heinous and violent offense" again.
  • Escaped North Korean soldier fights for life after being shot crossing DMZ

    Escaped North Korean soldier fights for life after being shot crossing DMZ

    It was not immediately known how serious the soldier's injuries were or why he made a decision to defect. The next 10 days will be crucial for his recovery, Lee was quoted as saying by the Yonhap News Agency.
    GameStop halts used game rental program before its launch

    GameStop halts used game rental program before its launch

    Per Kotaku , anyone who already bought into GamePass can bring back their pass and any game they rented for a full refund. The company said in a statement that it has identified some limitations to the service so has halted the service.
    Trump Picks Former Eli Lilly Drug Executive as Health Secretary

    Trump Picks Former Eli Lilly Drug Executive as Health Secretary

    If confirmed, Azar would replace Tom Price , who resigned in September during an investigation into his use of private jets. A lawyer by training, Azar previously clerked for Antonin Scalia on the Supreme Court.


Most liked

Worldwide Carbon Emissions Projected to Rise Again This Year
The 2017 growth may result from economic stimulus from the Chinese government, and may not continue in the years ahead. Coal use there is up an estimated 3 percent, oil use is up 5 percent and natural gas use is up almost 12 percent.

Delayed Rotten Tomatoes Score Reveals Where 'Justice League' Stands
Generally, the closer the reviews are published to the movie's release date, the lower the score, according to a Mashable report. With regard to the site's established way of analyzing their aggregated data, Justice League is dubbed Rotten.

Kim Kardashian Gets Candid on Surrogacy Experience: It's 'So Much Harder'
Part of the reason Kardashian West hated being pregnant was due to the fact that she suffered from placenta accreta. However, the star has now opened up about how she's struggling with the process of using a surrogate mother.

Wyden: Senate Ethics Committee should investigate Franken
His call for an investigation came after several other lawmakers had called for an ethics investigation into the allegations. While rehearing their lines before the show , Franken insisted they practice the kissing scene, to which she objected.

Oil leak shuts down portion of Keystone pipeline
While details are still emerging around this spill, we know it occurred in Marshall County on South Dakota's northern border. TransCanada said in its statement that it expected the pipeline to remain shut down as the company responds to the leak.

Kim Kardashian's not happy about her surrogate's birth plan
The stars are pictured attending the NBCUniversal Cable Entertainment Upfront on May 14, 2015 in New York City. Kim Kardashian West makes an appearance on " The Ellen DeGeneres Show " on Wednesday, Nov. 15, 2017.

Amazon is set to bring Lord of the Rings to TV
Amazon will certainly survive if it gambles on Lord of the Rings and falls short of taking the crown away from Game of Thrones . It was also been reported that Netflix and HBO were also approached, but that Amazon emerged as the frontrunners.

'The Talk' has a new co-host to replace Aisha Tyler
The rapper joins Sara Gilbert , Julie Chen , Sharon Osbourne and Sheryl Underwood on the daily CBS talk show. She's also appeared in the Barbershop films and the TV show Eve . "Nothing seems forced.

Max Scherzer, Corey Kluber win Cy Young awards again
Dodgers closer Kenley Jansen finished fifth overall with two third-place votes, five fourth-place votes and six fifth-place votes. But over the course of his final 23 starts of the regular season, Kluber posted a 1.62 ERA with a.175/.213/.283 opponents' slash.

Mask fools iPhone X's Face ID
While apple says FaceID is foolproof, we think cracking into an iPhone X may not be as easy or cheap as it sounds. As you can see, the researcher pulls a piece of cloth from a mask facing an iPhone X and it unlocks instantly.

United Kingdom minister offers parliament new vote on any Brexit deal
But the Government's beefed-up promise for a parliamentary vote did not dispel concerns surrounding the EU Withdrawal Bill. He said the government will introduce a new immigration bill next year setting out those plans in more detail.

Russian Federation posts video game screenshot as 'irrefutable evidence' of United States helping ISIS
In a Facebook post, the ministry said it liberated the town of Abu Kamal last week alongside the Syrian army . "I certainly can't verify, but I've seen the report that one of the pictures came from a video game ".

Five dead following shootings in rural California
One student was wounded at the school and another child was shot while driving with a woman, who also was wounded, Johnston said. Living near the gunman was "hell", Flint said, and the man was a known felon who often harassed him and his neighbors.

Super Eagles overcome Argentina with superb display
Super Eagles Technical Adviser, Gernot Rohr has cautioned his team to "stay humble" after they came from behind to defeat Argentina 4-2 in a friendly game on Tuesday.

There is now a hijab-wearing Barbie for the first time ever
Ibtihaj Muhammad attends Glamour's 2017 Women of The Year Awards at Kings Theatre on November 13, 2017 in Brooklyn, N.Y. Barbie is now donning the hijab! Mattel just released its first hijab-wearing Barbie and we're so here for it.