Moneycontrol Bureau
International rating agency Moody’s Thursday said India’s fiscal position was weaker than most countries with similar sovereign ratings, but said growth would continue to outperform those of peers.
Earlier this month, Moody's had upgraded India's outlook to positive from stable, but retained the credit rating at at 'Baa3', which is just a notch above the junk grade.
Moody’s said India’s credit profile will improve if it address weaknesses in fiscal metrics and in the banking system.
The rating agency also said reforms were crucial for rating upgrades.
After passing some important Bills in the Budget session, the government is facing stiff opposition to the Land Acquisition Bill as well as the Good and Services Tax.
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