Moody’s new rating acknowledges reform process, says Jaitley

Sanjeev Raj Sharma

Tribune News Service

New Delhi, November 17

Reacting to the Moody’s upgrading India’s credit rating, Finance Minister Arun Jaitley on Friday said it is recognition of the reform process that had placed India on a high growth trajectory.

He said it had happened after 13 years.

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Jaitley said it is recognition of the fiscal prudence that India had followed and demonetisation is now universally acknowledged which increased digitisation and lessened cash economy.

“These reforms are directional and all steps follow a particular roadmap and the global recognition strengthens our determination on the reforms path,” he said.

Jaitley said the upgrade had not happened in isolation.