Moody's upgrades India's ratings: 10 things you need to know
Nov 18, 2017, 00:24
Furthermore, Jaitley said the steps taken by the government in the last few years have contributed to the strengthening of the Indian economy, which ultimately lead to the upgradation. The US-based agency upped India's rating to Baa2 from Baa3, changing outlook to "stable" from "positive", and said that reforms will help stabilise rising levels of debt.
Taking on detractors who have criticised reforms, including demonetisation and GST, Jaitley, said, "I am sure that many who had doubts would now seriously introspect on their own positions".
The announcement may kick-off a short-lived rally next week in the bond market, with the 10-year government bond yield likely to fall by 5 basis points, traders said.
Moody's, however, warned the rating could be downgraded "if the health of the banking system deteriorated significantly or external vulnerability increased sharply". "A clear recognition of economic & institutional reforms; well paced shift towards formalisation of the economy; improvement in business climate;positive growth outlook". Standard and Poor's, which still assigns the lowest investment grade to India with a stable outlook, said India needed to address its weak fiscal position, indicating upgrades would take time. "The rating agency too has now confirmed it formally, which is welcome". The second quarter's numbers would be out by the end of this month. While GST and demonetisation have undermined growth over the near term, real GDP growth will rise to 7.5 per cent in 2018- 19 as disruption fades, it said.
The Indian Rupee soared as much as 1 percent on Friday after the Moody's Investor Services upgraded the nation's sovereign rating on optimism that foreign fund flows - both direct investment and portfolio, would accelerate.
Stressing that Moody upgrade ratings after a gap of 13 years, Shah claimed that the economy under Manmohan Singh-Sonia Gandhi rule had derailed.
The Narendra Modi government has just received a pat on the back from a heavyweight-credit rating agency Moody'.
Word of their rekindled friendship spread after the singer was spotted leaving Yolanda Hadid's ( Bella's mom) apartment in NYC . A source told People , however, that they want to keep their relationship more "private" even though they are 'happy'.
While Varun Dhawan welcomed Janhvi and Ishaan, Sonam Kapoor acknowledged being floored by the poster in a heartbeat. The movie is being directed by Abhishek Kapoor and is a romantic tale set on backdrop of a pilgrimage.
If you are viewing this piece on another site, it was copied illegally and republished in violation of USA & global copyright law. Here we will take a look at several key ratios for Target Corporation (NYSE: TGT ), starting with the Book to Market (BTM) ratio.
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She tweeted United Airlines to help her find it, but once they called to say the had, she immediately knew something was off. Variety reports that McGowan was arrested and booked in Virginia with McGowan being released on a $5,000 unsecured bond.
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The 2017 Victoria's Secret Fashion Show is right around the corner, but two of the most anticipated invitees won't be there. Supermodel Adriana Lima's visa is in limbo due to a "diplomatic problem", according to Page Six .
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PT this morning, the San Joaquin County Sheriff's Office said, "as the result of a tip received from an alert taxi cab driver". Saito was committed to the state hospital in 1981 after his acquittal in the 1979 slaying of Sandra Yamashiro.
US President Donald Trump has previously said negotiating with North Korea would be "a waste of time". China is sending a special envoy to North Korea later this week, according to the state-run media.
A poster depicting Saad al-Hariri, who has resigned as Lebanon's prime minister, is seen in Beirut, Lebanon, November 14, 2017. France, Lebanon's onetime colonial ruler, has been trying to mediate in the crisis between Lebanon and Saudi Arabia.
In all seriousness, Shelton, 41, credits his sweetheart of two years, Gwen Stefani , for persuading him to grasp the crown. We think People made a pretty good call this year. 'If I can be sexy for a year, I'm taking it!'
Jeff Long Out As Arkansas AD
Long, who was the first chair of the College Football Playoff selection committee, remains a member of that crew. Long served as Arkansas' athletic director since 2008 when he took over from legendary figure Frank Broyles.