Union Finance Minister Arun Jaitley on Friday described the decision of Moody’s Investors Service to upgrade India’s outlook as a positive development.
“This is a positive development for the county, but we still have a long way to go,” Jaitley told the media.
Earlier, Moody’s Investors Service changed India’s outlook from ‘stable’ to ‘positive’, stating that there is an increasing probability the actions of policy makers will enhance the country’s economic and financial strength over the coming years.
“There is an increasing probability that actions by policy makers will enhance the country’s economic strength and, in turn, the sovereign’s financial strength over coming years. India has grown faster than similarly rated peers over the last decade due to favourable demographics, economic diversity, as well as high savings and investment rates,” Moody’s was quoted as having stated. (ANI)