Economy

Jaitley says rating upgrade belated recognition of reform process

Surabhi New Delhi | Updated on January 09, 2018 Published on November 17, 2017
Finance Minister Arun Jaitley with Finance Secretary Hasmukh Adhia addressing a press confrence on Moody's at North Block Office, in New Delhi, on Friday. Photo: Kamal Narang

B.Line:Finance Minister,Arun Jaitley along with Hasmukh Adhia , Finance,Secretary addressing a press confrence on Moody's at North Block Office,in New Delhi, on 17.11.17,PIC:Kamal Narang   -  BusinessLine

Welcomes the upgrade and said fiscal prudence will be maintained

Finance Minister Arun Jaitley on Friday welcomed the upgrade in India’s sovereign ratings by Moody’s and said it is a “belated recognition” of the reforms undertaken by the government.

“It is an upgrade which has happened after 13 years. We welcome it and believe that it is a belated recognition of all the positive steps taken in India in the last few years which has contributed to the strengthening of the Indian economy,” he told reporters.

He reiterated the government’s commitment to structural reforms and said fiscal prudence will be maintained. “We maintain the fiscal discipline and continue to remain in fiscal glide path,” he stressed.

“And after a long spell of 13 years, India gets the rating upgrade. I am sure that many who had doubts would now seriously introspect on their own positions”, he further said.

Published on November 17, 2017
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