Moody's raises India rating, citing reforms
Prime Minister Narendra Modi
New Delhi - Egypt Today
Moody's on Friday upgraded India's credit rating for the first time in more than a decade, citing economic reforms introduced under Prime Minister Narendra Modi.
The move comes almost two months after the Moody's and Standar & Poor's lowered their ratings on regional rival China citing the country's ballooning debt burden.
Moody's raised its rating on India to Baa2 from Baa3, the first such move since January 2004, saying recent reforms would enhance productivity, stimulate foreign and domestic investment and foster "strong and sustainable growth".
These include a new national goods and services tax and a controversial 2016 ban on high-value bank notes aimed at tackling widespread tax evasion.
"Continued progress on economic and institutional reforms will, over time, enhance India's high growth potential," the agency said.
GMT 17:56 2017 Thursday ,14 December
GE and Tata partner to make engine components in IndiaRussia tests new telemetry system during manned Soyuz MS-11 spacecraft’s launch
Moscow - TASS
The Astra-06 apparatus developed by specialists of Russian Space Systems (RSS) was used for the first time as additional telemetric equipment aboard the manned Soyuz MS-11 spacecraft launc...Read More
GMT 19:07 2018 Friday ,14 December
Lebanese PM flags up Saudi investment potential, financial tiesGMT 23:31 2012 Friday ,03 August
Pakistani parents jailed for \'honour killing\' of daughter
GMT 17:19 2017 Tuesday ,18 July
Wali meets with Arab ambassadors in New York
GMT 12:44 2018 Tuesday ,18 September
MBC Studio launches to grow TV, film in region
GMT 20:00 2017 Monday ,24 April
Nasser10 preparations reviewed
GMT 07:37 2017 Tuesday ,14 November
Arab Coalition kills 18 Houthi militants in Yemen’s Jawf and Taiz
GMT 14:30 2014 Saturday ,16 August
Tens of thousands take to streets to protest Pakistani government
GMT 09:57 2017 Wednesday ,05 July
King congratulates presidents
GMT 06:50 2017 Friday ,30 June
RAF Rabat’s coach underlines difficulty
GMT 16:36 2017 Saturday ,22 April
Prestigious Muslim body condemns Paris attackGMT 18:37 2011 Monday ,04 July
Abu Dhabi hotel occupancy up 10%
GMT 15:14 2017 Thursday ,02 February
Justin Trudeau Forces FOX News to Delete Incorrect Quebec
GMT 20:07 2017 Thursday ,20 April
2 killed, injured in Arish blast
GMT 20:00 2017 Monday ,03 April
Pope ‘deeply pained’ by deaths and destruction in Colombia
GMT 21:17 2017 Wednesday ,03 May
Malian gov't condemns vicious attack on military convoy
GMT 22:54 2016 Tuesday ,06 December
Qatar Fencing Grand Prix to Begin on Friday
GMT 13:39 2016 Wednesday ,28 December
Pakistan Turns On Fourth Nuclear PlantGMT 13:55 2011 Saturday ,30 July
BCC praises HM King hamad’s keynote address
GMT 07:16 2017 Wednesday ,22 March
King Abdullah II to Start Official Visit to Morocco on Wednesday
GMT 07:54 2017 Monday ,10 April
Egypt’s Sisi declares three-month state of emergency
GMT 22:02 2013 Saturday ,21 December
3 US servicemen wounded in South Sudan aircraft shooting incident
GMT 06:40 2014 Friday ,29 August
Petit sets pitching record in Giants' win
GMT 00:08 2017 Saturday ,04 March
Indian High School in Dubai to be IELTS registration centre
GMT 19:46 2015 Thursday ,16 July
Brazil opens corruption probe against ex-president Lula
GMT 01:29 2014 Monday ,02 June
Terrific kitchen wall decor
GMT 14:20 2017 Saturday ,14 January
Thomas roars home again to shoot 36 hole scoring record
GMT 19:28 2017 Tuesday ,01 August
Breast cancer is the most prevalent in TunisiaGMT 10:18 2011 Wednesday ,08 June
Karachi index rises 0.85%, oil companies lead rally
GMT 03:10 2017 Tuesday ,21 March
Dafza launches new strategic plan 2017-2021
GMT 12:22 2016 Thursday ,29 December
Tevez signs for Shanghai Shenhua in the latest Chinese deal
GMT 18:13 2017 Monday ,07 August
5 Reasons you should consider for your getaway
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Send your comments
Your comment as a visitor