FinMin officials pitch for better sovereign rating outlook with Moody's

Finance Ministry officials and representatives of rating agency Moody's on Tuesday discussed economic growth prospects, during which India pitched for an upgrade in its sovereign rating outlook. Sources said the meeting was attended by Chief Economic Advisor K V Subramanian and other officers from the Department of Economic Affairs and Moody's analyst. Moody's Investors Service had last year downgraded India's sovereign rating to 'Baa3' from 'Baa2', saying there will be challenges in the implementation of policies to mitigate risks of a sustained period of low growth and deteriorating fiscal position.
The outlook on the sovereign rating is negative. During Tuesday's meeting, Finance Ministry officials highlighted the upward trajectory of GDP growth seen in the June 2021 quarter and also the fiscal deficit and borrowing number.