India on Tuesday pitched for a rating upgrade with global agency Fitch Ratings citing improvement in macroeconomic conditions and the government's commitment to fiscal consolidation.
"We highlighted the overall economic situation and in all the major sectors the challenges which the economy faces and what is the outlook for the next year," Economic Affairs Secretary Shaktikanta Das told reporters after a two-hour long meeting with the representatives of the agency.
Fitch Ratings had in December affirmed India's 'BBB-' rating with a stable outlook, and has forecast 8 per cent growth for 2016-17. 'BBB-' is the lowest investment grade and just a notch above junk grading.
Chief Economic Advisor Arvind Subramanian had earlier said the government has pitched for a rating upgrade with Fitch stating finance ministry is committed to fiscal consolidation path.
Asked about its views on India, Fitch Ratings Primary Analyst Thomas Rookmaaker said: "We are now in the process of our review. It is going to take some time."
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India pitches for rating upgrade
By IndianMandarins - 2016-06-08 11:02:32
India on Tuesday pitched for a rating upgrade with global agency Fitch Ratings citing improvement in macroeconomic conditions and the government's commitment to fiscal consolidation.
"We highlighted the overall economic situation and in all the major sectors the challenges which the economy faces and what is the outlook for the next year," Economic Affairs Secretary Shaktikanta Das told reporters after a two-hour long meeting with the representatives of the agency.
Fitch Ratings had in December affirmed India's 'BBB-' rating with a stable outlook, and has forecast 8 per cent growth for 2016-17. 'BBB-' is the lowest investment grade and just a notch above junk grading.
Chief Economic Advisor Arvind Subramanian had earlier said the government has pitched for a rating upgrade with Fitch stating finance ministry is committed to fiscal consolidation path.
Asked about its views on India, Fitch Ratings Primary Analyst Thomas Rookmaaker said: "We are now in the process of our review. It is going to take some time."
