INSUBCONTINENT EXCLUSIVE:
Rating company Moody's has actually updated India's outlook to stableGlobal rating company Moody's has actually updated India's
score outlook to stable from its earlier negative outlook, though at the same time it has actually affirmed its Baa3 rating.The decision
shows that the Indian economy is moving towards an upwards trajectory.The rating agency said that economic recovery is in development as
activity is slowly getting and spreading to other sectors as well.Moody's had last year downgraded India's rating from Baa2 to Baa3,
observing that it could deal with difficulties in executing policies to alleviate risks of a sustain duration of low development and
deteriorating financial position.In a statement released by the rating agency, it stated that though risks from a high sovereign debt
concern remain, an improvement in financial conditions will slowly alleviate concerns.The firm sees country's genuine GDP going beyond
2019 levels during the existing financial year and expects development at 9.3 percent during 2021-22 and at 7.9 per cent in 2022-23
Drawback risks to growth from subsequent coronavirus infection waves are alleviated by increasing vaccination rates and more selective use
of limitations on economic activity, as seen during the second wave, it said.
