-0.8 C
New York
Tuesday 30 November 2021

Buy now

Ad

HomePoliticsIndiaS&P's report appreciation of govt's reform measures: Sitharaman

S&P’s report appreciation of govt’s reform measures: Sitharaman

|

Delhi: Rating agency Standard & Poor’s report on India is a reflection of its appreciation of the steps taken by the government to keep the stable and ensure a high growth trajectory, Defence Minister Nirmala Sitharaman said today.

She said besides keeping its sovereign rating for India unchanged, the rating agency complimented the country on several counts including the roll-out of the GST, introduction of the bankruptcy code and recapitalisation of the state-owned banks.

“The S&P had inferred that over the next two years, growth in India will remain strong and the country will maintain its sound external accounts position,” Sitharaman said.

The rating agency kept its sovereign rating for India unchanged at ‘BBB-minus’ with ‘stable’ outlook, saying vulnerabilities stemming from low per capita income and high government debt balance strong growth.

The report said that the demonetisation and the roll-out of the GST may have led to some quarterly cooling off but observed that the medium term outlook for growth in the country is favourable, Sitharaman noted.

“The report has also appreciated India’s efforts in improving monetary credibility and has noted the presence of strong democratic institutions and free press,” she said.

Referring to India’s external debt, she said the report has observed that external indebtedness is likely to remain contained throughout the period underpinned by an improved current account deficit.

“It further asserts that effort of the government to expand base by demonetisation has increased the number of tax registrants and that introduction of GST will further accelerate government revenue,” she said.

The rating stance taken by S&P Global Ratings comes days after Moody’s Investors Service raised India’s sovereign rating for the first time in over 13 years on growth prospects boosted by continued economic and institutional reforms.

In a statement, S&P said India’s rating reflects its strong growth, sound external profile and improving monetary credibility.

Sirf News needs to recruit journalists in large numbers to increase the volume of its reports and articles to at least 100 a day, which will make us mainstream, which is necessary to challenge the anti-India discourse by established media houses. Besides there are monthly liabilities like the subscription fees of news agencies, the cost of a dedicated server, office maintenance, marketing expenses, etc. Donation is our only source of income. Please serve the cause of the nation by donating generously.

Support pro-India journalism by donating

via UPI to surajit.dasgupta@icici or

via PayTM to 9650444033

बच्चे हों या बुजुर्ग सबकी सुरक्षा है हमारी जिम्मेदारी, कोविड अनुरूप व्यवहारों को अपनाने में ना करें लापरवाही । #Unite2FightCorona #IndiaFightsCorona #JanAndolan @SpokespersonMoD

#Microlight flying conducted at Sanganer Airport by 1 Raj Air Squadron #NCCDteRajasthan
Microlight Slovian two-seater trainer aircraft named #Garuda
Flying Speed 170 Kmph - 20 cadets flew with Group Captain Neeraj Amba @SpokespersonMoD @HQ_DG_NCC @dte_ncc @adgpi @PIBJaipur

3
Read further:

This site uses Akismet to reduce spam. Learn how your comment data is processed.

- Advertisment -

Now

Columns

[prisna-google-website-translator]
%d bloggers like this: