India pitches for ratings upgrade with Fitch

NEW DELHI: Pitching for India’s sovereign rating upgrade, the finance ministry on Tuesday impressed upon US-based Fitch that the macro-economic parameters have improved, and the government is moving ahead on the fiscal-consolidation path. “We highlighted the overall economic situation, the challenges the economy faces, and the outlook for the next year,” economic affairs secretary Shaktikanta Das said after a two-hour long meeting. Fitch had in December affirmed India’s ‘BBB-’ rating with a stable outlook, and forecast 8% growth for 2016-17. ‘BBB-’ is the lowest investment grade and a notch above junk.

HT Image