Moody's gives Modi a boost by raising India's sovereign bond rating

Moody's gives Modi a boost by raising India's sovereign bond rating

The rating agency also said that India's growth potential is significantly higher than the most other baa rated sovereigns.

Moody's has also raised India's long-term foreign-currency bond ceiling to Baa1 from Baa2, and the long-term foreign-currency bank deposit ceiling to Baa2 from Baa3.

Credit rating agency upgrades India's sovereign bonds for the first time in nearly 14 years, changing its rating outlook to stable from positive. All steps taken in the last few years had a roadmap. The report said: "Measures (GST, DBT and Demonetisation) will increase the degree of formality in the economy, broaden the tax base, and promote expenditure efficiency through rationalisation of government schemes and better-targeted delivery will support the expected, though very gradual, improvement in India's fiscal metrics over time". He said the upgrade has not happened in isolation and for the last three years the India has been the fastest growing major economy.

Macron invites Hariri, family to France
Hariri announced his resignation in a televised broadcast from Saudi Arabia on November 4, and has not yet returned to Lebanon. Aoun said Saudi Arabia had committed a "hostile act against Lebanon", and that he had called the ambassadors of U.N.

He also lauded the smooth transition of the Goods and Services Tax (GST).

Last year, India lobbied hard with Moody's for an upgrade, but failed. All these steps which constituted major reforms are directional in nature.

Moody's on Friday upgraded the government's local and foreign currency issuer ratings to Baa2 from Baa3 and changed the outlook on the rating to stable from positive after a gap of 13 years.

Italy stunned as Sweden beat Azzurri on aggregate to reach World Cup
And now we have the catalogue of penalty appeals during this Italy-Sweden clash, all of which were overruled by Lahoz. The final play-off game will see Republic of Ireland host Denmark on Tuesday.

Earlier, the Union Finance Minister, Shri Jaitley in his Keynote Address at Morgan Stanley 16th Annual Asia Pacific Summit in Singapore today on "India: Structural Reforms and Growth Path Ahead " elucidated on the current state of India's economy, outlining the key reforms being implemented by the present Government with a view to position India as an attractive global investment destination. In 2015, the rating outlook was changed to "positive" from "stable".

Within minutes of upgrade the Government's Chief Economic Advisor Arvind Subramanian tweeted, "Moody's India rating upgrade. 1". Standard & Poor's has kept India at the lowest investment grade just above junk status for a decade and Fitch Ratings for one year longer.

Russian Federation to amend law to classify media as 'foreign agents'
CNN, Voice of America and Radio Free Europe/Radio Liberty were named as likely targets for the new Russian law. Simonyan said that RT will comply, otherwise she could be arrested and the news outlet's accounts frozen.

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