International ratings agency Moody’s has upgraded the outlook on India’s sovereign rating to Stable from Negative. Upgrading the outlook, the Rating Agency yesterday cited broadening of the economic recovery and receding financial sector risks. The agency noticed that the rising vaccination has reduced growth risks from subsequent coronavirus infections.
Chief Economic Advisor K V Subramanian said that better improvement is expected in India’s sovereign rating. He said, the risk in the banking and financial sector have actually come down and this is the reason behind upgrading the outlook from negative to stable by Moody’s. On Moody’s expectation about India’s real GDP growth to average around six per cent over the medium term, Mr Subramanian expressed his view that the estimate was less than the expectation.
In an exclusive interview to AIR NEWS, Chief Economic Advisor Mr. Krishnamurthy Subramaniyam outlined the importance of Moody’s upgradation of India’s sovereign rating outlook when the country is passing through the difficult pandemic time. He said that given the conservative stance of rating agencies this upgradation is all the more significant and shows the improvement in the financial sector.
This interview can be heard tonight in our world news program on FM Gold Channel and additional frequencies from 10.30 p. m. onwards. This programme will also be available on our website NEWS ON AIR DOT COM and on our YouTube Channel NEWSONAIROFFICIAL.