S&P revision reflects PM Modi's fiscally prudent growth policies, says Nirmala Sitharaman

Efforts will be made to achieve the status of third largest economy earlier, FM Sitharaman said.

Calling the Outlook revision by S&P a 'good omen' for the economy, Finance Minister Nirmala Sitharaman told CNN-News18 in an exclusive conversation that rating agency has backed India's policies to driving growth while being fiscally prudent, and the reasons cited by them explains why India needs the leadership of Prime Minister Modi.

The fiscal prudence as well as expenditure for asset creation has been the 'consistent empahsis' of the PM, which has also been cited by S&P as their justification for the Outlook revision, FM Sitharaman said. She also expressed hope of an ratings upgrade in the next 24 months.

Finance Minister also underscored that the immimdiate agenda for the new government will be to 'get going with work that can be delivered within 100 days'. As part of government's larger Viksit Bharat mission, Finance Minister Sitharaman said efforts will be made to achieve the status of the third largest economy earlier than what is being projected. "The 100-day work plan is to put on our skates and moving towards delivering a Viksit Bharat".

The rating revison by S&P is a validation of India's solid growth and promising economic outlook, FM Sitharaman said. "It has been possible due to the series of macroeconomic reforms undertaken since 2014, along with substantial outlay for capex, fiscal discipline, and decisive & visionary leadership", FM had posted on social media platform X on May 29.