Saturday, November 18, 2017
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Moody’s lifts credit mood

Ups rating after gap of 13 years ‘Positive’ outlook is now ‘stable’18 Nov 2017 | 4:41 AM

NEW DELHI:After 13 years, India’s sovereign credit rating has been upgraded by global agency Moody's to Baa2 from Baa3 with a changed outlook on the rating to“stable” from “positive”.

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Moody’s lifts  credit mood

Sanjeev Sharma

Tribune News Service

New Delhi, November 17

After 13 years, India’s sovereign credit rating has been upgraded by global agency Moody's to Baa2 from Baa3 with a changed outlook on the rating to “stable” from “positive”.

The upgrade will boost India’s growth story with enhanced foreign inflows, lower cost of borrowings for government and corporates and pep up rupee and stock markets. BSE Sensex today shot up by 235 points to close at 33,342 points following the ratings upgrade.

Edit: Moody’s swing

The Moody’s Investors Service move is being seen as a boost for the economic policies of the Narendra Modi government. The agency said the continued progress on economic and institutional reforms would, over time, enhance India’s high growth potential and its large and stable financing base for government debt.

“While a number of important reforms remain at design phase, Moody’s believes that those implemented to date will advance the government’s objective of improving the business climate, enhancing productivity, stimulating foreign and domestic investment, and ultimately fostering strong and sustainable growth,” Moody’s said.

(Follow The Tribune on Facebook; and Twitter @thetribunechd)

Among the key reforms that Moody’s noted were the GST, measures to address the overhang of non-performing loans (NPLs) in the banking system; and measures such as demonetisation, the Aadhaar system and targeted delivery of benefits through the direct benefit transfer (DBT) system.

However, the agency noted that these reforms will take time to yield results. “Most of these measures will take time for their impact to be seen,” it said. Chief Economic Adviser Arvind Subramanian, meanwhile, said the upgrade was long overdue.


About the agency

  • Founded in 1909, Moody’s Investors Service, often referred to as Moody’s, provides international financial research on bonds issued by commercial and government entities
  • It assigns securities rating from Aaa to C-Aaa being the highest and C the lowest
  • Moody’s, along with Standard & Poor’s and Fitch Group, is considered one of the top three credit rating agencies in the world

‘Doubters, introspect’

Many who had doubts about India’s reform process should now seriously introspect on their position. These reforms are directional and all steps follow a particular roadmap — Arun Jaitley, Finance Minister

Khaira fails to get HC relief in drugs case

Khaira fails to get HC relief in drugs case

18 Nov 2017 | 2:19 AM

CHANDIGARH:In a setback to Leader of Opposition in the Punjab Vidhan Sabha and AAP MLA Sukhpal Singh Khaira, the Punjab and Haryana High Court today dismissed his plea against a Fazilka court’s orders summoning him as an additional accused in a drugs case.

Punjab to forfeit drug offenders’ assets

Punjab to forfeit drug offenders’ assets

18 Nov 2017 | 2:15 AM

CHANDIGARH:The Punjab Cabinet today approved enactment of the "Punjab Forfeiture of Illegally Acquired Property Act, 2017" to enable attachment, seizure and forfeiture of properties of drug offenders.

J&K footballer shuns arms; Army won’t press charges

J&K footballer shuns arms; Army won’t press charges

18 Nov 2017 | 2:15 AM

AWANTIPORE:Mother’s love changed the heart of 20-year-old footballer-turned-Lashkar militant Majid Khan to renounce violence and return home.

Rafale deal better than UPA’s: Sitharaman

Rafale deal better than UPA’s: Sitharaman

18 Nov 2017 | 2:14 AM

NEW DELHI:In what is the Centre’s first response to the Congress’ allegations on Rafale fighter jet deal, Defence Minister Nirmala Sitharaman today claimed the aircraft cost negotiated by the ruling NDA was much lower than that by its predecessor UPA.

Foster mum held for Indian girl’s death

Foster mum held for Indian girl’s death

18 Nov 2017 | 2:14 AM

HOUSTON:The foster mother of three-year-old Indian girl Sherin Mathews found dead ina culvert in Dallas has been arrested and charged with child abandonment.

New gene may halt wheat epidemic

New gene may halt wheat epidemic

18 Nov 2017 | 2:14 AM

LOS ANGELES:Researchers have identified a gene that can help fight a new devastating strain of a fungal disease that is now at the door of the Punjab region — the breadbasket of Asia.

Train leaves 20 secs early, Japan rly ‘deeply sorry’

Train leaves 20 secs early, Japan rly ‘deeply sorry’

18 Nov 2017 | 2:14 AM

TOKYO:A Japanese railway operator has issued a deep apology for the “tremendous nuisance” caused by a train departing 20 seconds early, surprising even a nation renowned for both punctuality and politeness.

Mumbai-Pune hyperloop in works

Mumbai-Pune hyperloop in works

18 Nov 2017 | 2:14 AM

MUMBAI:Maharashtra has joined Andhra Pradesh and Karnataka in examining the feasibility of deploying Virgin’s Hyperloop One as another means of high-speed transport.


Moody’s swing

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Trump’s Asian safari

Trump’s Asian safari

S Nihal Singh

Slim pickings for America

Nepal set for simultaneous polls

Maj-Gen Ashok K Mehta (retd)

The Himalayan kingdom is in the grip of election fever as candidates of the Left Alliance and the Democratic Alliance woo the electorate. While pundits predict a win for the Left, it’s possible the Democrats may do ''Bhailo'' (victory dance).

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Gates to help UP fight infant diseases, improve hygiene

Gates to help UP fight infant diseases, improve hygiene

18 Nov 2017 | 1:42 AM

LUCKNOW: The Yogi Adityanath government would soon sign an MoU with the Bill and Melinda Gates Foundation to step up its campaign for vaccination of infants against the dreaded Japanese encephalitis that has been claiming lives on a regular basis in Gorakhpur.

CITY FOCUS

No

3-day Assembly session from Nov 27

18 Nov 2017 | 1:47 AM

CHANDIGARH: The three-day winter session of the Punjab Vidhan Sabha will begin on November 27, ahead of the elections to three Municipal Corporations of Jalandhar, Amritsar and Patiala and 36 Municipal Councils.

No

Three youths jump off train, 2 die

18 Nov 2017 | 1:42 AM

MANSA: Two youths lost their lives and another was seriously injured when the trio jumped off a moving train at Budhlada in the district this afternoon.

No

Targeted killings: Guns seized from gangster’s gas station in Ludhiana

18 Nov 2017 | 1:42 AM

LUDHIANA:A raid conducted by the Moga police at the petrol pump owned by gangster Dharminder Singh, alias Gugni, led to the recovery of several illegal firearms.

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HC reserves verdict in Junaid case

18 Nov 2017 | 12:02 AM

CHANDIGARH: Just about six months after 15-year-old Junaid Khan was stabbed to death on a train, the Punjab and Haryana High Court today reserved its verdict on his father’s plea for probe by an independent agency such as the CBI.

NGT provides hope for choked deodars

NGT provides hope for choked deodars

18 Nov 2017 | 12:44 AM

SHIMLA: There could be some hope for the majestic century-old deodar trees, facing the axe or being choked to death to make way for multi-storeyed concrete structure with the National Green Tribunal (NGT) fixing an environmental compensation of Rs 5 lakh for damaging forests or trees for each violation.

‘Padmavati’ row: Rajputs to hold symbolic protest today

‘Padmavati’ row: Rajputs to hold symbolic protest today

18 Nov 2017 | 12:46 AM

JAMMU:Acting on the row over the alleged distortion of historical facts in the much-publicised Bollywood movie ‘Padmavati’, members of the Rajput community, under the aegis of Shri Amar Kshatriya Rajput Sabha, today threatened not to allow its screening in the state.

Assembly session at Gairsain: Speaker

Assembly session at Gairsain: Speaker

18 Nov 2017 | 1:11 AM

DEHRADUN:Despite the National Green Tribunal reprimanding Uttarakhand for carrying out construction of a new Assembly building at Bhararisain (in Gairsain Chamoli) without the mandatory clearances, the Assembly session will kick off from December 7 at Bhararisain, Speaker Prem Chand Aggarwal has said on Friday.

Mugabe appears in public for first time since ‘coup’

Mugabe appears in public for first time since ‘coup’

18 Nov 2017 | 2:13 AM

HARARE:Zimbabwe’s President Robert Mugabe appeared in public on Friday for the first time since the army took charge this week, as the ruling party made plans to force him to step down after more than three decades in power.

Toyota, Suzuki join hands for electric vehicles in India

Toyota, Suzuki join hands for electric vehicles in India

18 Nov 2017 | 12:54 AM

NEW DELHI:Toyota and Suzuki have inked a pact for introducing electric vehicles (EVs) in India — the fifth largest car market — by 2020, almost 10 years ahead of the ambitious plan worked out by the government.

NoCheteshwar Pujara plays a shot during the second day of the first Test against Sri Lanka at the Eden Gardens in Kolkata on Friday. PTI

Pujara’s English lessons

18 Nov 2017 | 1:28 AM

KOLKATA:Only 21 overs were bowled today, the second consecutive rain-hit day of the first Test, but they were enough for Cheteshwar Pujara to demonstrate the art of playing on a grassy wicket.

No

Matt’s patience, and what about poor Vijay?

18 Nov 2017 | 1:28 AM

KOLKATA:Even Matt Hayden, the big Aussie opener known for his brutish attack on the bowlers, was a patient batsman once.

No

Sardar axed, Rupinder back for HWL Final

18 Nov 2017 | 1:28 AM

NEW DELHI:Veteran midfielder Sardar Singh was today dropped from India’s 18-member squad for next month’s Hockey World League Final, while a fit-again Rupinder Pal Singh and Birendra Lakra made comebacks for the season-ending tournament to be held in Bhubaneswar.

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Will to embrace deathEUTHANASIA: THE DEATH WISH

Will to embrace death

13 Nov 2017 | 12:40 AM
A surgical plunderEconomy: Demonetisation - A year after

A surgical plunder

06 Nov 2017 | 1:16 AM
Hiding a catastropheEconomy: Demonetisation - A year after

Hiding a catastrophe

06 Nov 2017 | 1:16 AM
Ride the cashless wave

Ride the cashless wave

15 Nov 2017 | 12:40 AM
Caretakers of healthcareCareer Compass: Diagnostics

Caretakers of healthcare

15 Nov 2017 | 12:40 AM
Fancy these fellowships

Fancy these fellowships

15 Nov 2017 | 12:40 AM
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