Moody's Give thumbsup for India's Budget

     Written by : SMTV24x7 | Fri, Feb 02, 2018, 05:22 PM

Moodys Give thumbsup for Indias Budget

Washington Feb 2: Finance minister Arun Jaitley on Thursday has presented the budget.The FM has also modified the Fiscal deficit target for the coming years and has accepted the comitee report setup on reviewing FRBM act.

He added that "Revised Fiscal Deficit estimates for 2017-18 are Rs.5.95 lakh crore at 3.5% of GDP. I am projecting a Fiscal Deficit of 3.3% of GDP for the year 2018-19."

International Rating Agency Moody's has reacted positively on the Budget and said that "India's 2018/19 budget is in line with the government's fiscal consolidation path."

Joy Rankothge, Vice President of Moody's Investors Service has said that "Most of the spending announced seemed to be on "productive investments" rather than 'one-time hand outs', You'll see more medium-long term benefits, again depending on how it's implemented and how it's funded,".

Last year the International Agency has upgraded India's rating after 14 years to "Baa2" with a "stable" outlook.