In effect, India has become the largest economy among Baa2-rated sovereigns, according to Moody's.
Tyagi also said the rating upgrade to Baa2 would further boost investments including foreign inflows.
The US-based Moody's upgraded India's sovereign rating after a gap of 13 years to Baa2, with 'stable' outlook, from Baa3 earlier, citing improved growth prospects driven by economic and institutional reforms. "Moody's upgrading India's Ratings is a reflection of India growth story and sound economic principles for a #NewIndia.
Rating agency Moody’s lifted India’s government bond rating to Baa2 from Baa3. The agency also changed its outlook to stable from positive.
Jaitley said the government will maintain fiscal discipline and will "continue to maintain the glide path."
The green panel, however, refused to lift its ban on industrial activities causing pollution in the Delhi-National Capital Region region.
The central bank is likely to set March 31, next year, as the deadline for the banks to resolve the issue or go ahead with bankruptcy proceedings against the borrowers, a finance ministry official told ET.
It is far better to play the corporate facing private sector banks like Axis and ICICI Bank than PSU banks, said Suresh Ganapathy, Banking Analyst, Macquarie Capital Securities.
The US-based Moody's today upgraded India's sovereign rating after 13 years to Baa2 with a stable outlook, from Baa3 earlier.
The initiatives that the government has taken in the recent times in the various things starting with demonetisation, goods and services tax (GST), real estate regulatory authority (RERA) are taking its effect and rating agencies are now beginning to recognise India’s potential, Keki Mistry, Vice Chairman and CEO of HDFC said.
Moody’s Investors Services on Friday upgraded India’s sovereign ratings to Baa2 from its lowest investment grade (Baa3) giving credit to the Narendra Modi government’s reforms initiatives. Here’s all you need to know about credit ratings:
Rating agency Moody’s lifted India’s government bond rating to Baa2 from Baa3. The agency also changed its outlook to positive from stable.
Moody's has also raised India's long-term foreign-currency bond ceiling to Baa1 from Baa2, and the long-term foreign-currency bank deposit ceiling to Baa2 from Baa3.
The Indian economy grew at its slowest pace in three years between April and June at 5.7 percent. A Reuters poll conducted in October showed economists predict South Asia's largest economy will grow by 6.7 percent in the fiscal year ending March 2018.
The rating upgrade comes after a gap of 13 years - Moody's had last upgraded India's rating to 'Baa3' in 2004. In 2015, the rating outlook was changed to 'positive' from 'stable'.
Rangarajan said he thinks this is the end of the season when prices rise as far as food articles are concerned.
There has been a huge debate on whether or not restaurants have been passing on GST rate cut benefits to consumers or not. To discuss this, CNBC-TV18 caught up with Rohan Shah, Tax Expert, Pratik Jain, Partner at PwC India, Adarsh Shetty, President of Indian Hotel and Restaurant Association and Rahul Singh, Vice President and Gurgaon Chapter Head of National Restaurant Association OF India.
Producers should get a tax refund for the expenses incurred during exploration and production of natural gas till the time the fuel comes under the GST net, Baru said in his letter.
The Reserve Bank of India is soon likely to issue clarifications on the guidelines for peer-to-peer (P2P) lending platforms relating to the lending limits, trusteeship and other operational norms.
More than four months after the launch of GST, the industry has pitched for an inclusion of natural gas in the new indirect tax regime so as to help producers contain cost and aid in moving towards a gas-based economy.
Suresh Prabhu on Thursday expressed confidence that exports will gather momentum going forward as the economy is on course to double to USD 5 trillion and become the third largest in the world, over the next few years.
The product offers Rs 2 lakh to Rs 50 lakh, across only 4 variants.
The government has prepared a proposal to offer 200 basis points cut on the GST payable in all for business-to-consumer (B2C) transactions that take place digitally to push digital transactions under GST regime.
The general insurance company has a major portion of the business coming in from motor.
The Central Board of Excise and Customs (CBEC) last month said that businesses with turnover up to Rs 1.5 crore are exempt from deducting Goods and Services Tax (GST) on advance payment for supply of goods.