BJP, government cheer Moody's ratings upgrade

The ruling BJP and the government on Friday cheered US credit ratings agency Moody's upgradation of India's sovereign ratings, with party President Amit Shah and several ministers tweeting that it was a recognition of all the good work done by the NDA.

"India's largest ever increase in Ease of Doing Business rankings, Pew study ascertaining PM ji's popularity, Moody's upgrade are all reflections of Modi Govt's hard-work and reform process," tweeted Bharatiya Janata Party (BJP) President Amit Shah.

US credit rating agency Moody's on Friday upgraded India's sovereign rating to Baa2 from its lowest investment grade of Baa, while changing the outlook for the country's rating to stable from positive, and said its was based on the Indian government's "wide-ranging programme of economic and institutional reforms".

"Recognising India's growth enhancing reforms under PM , Moody's has upgraded India's sovereign rating for the first time since 2004. Entire world is recognising "Sabka Saath, Sabka Vikas"" Railways and Coal Minister Piyush Goyal said in a tweet.

"Recognising India's continued progress under Hon'ble Narendra Modi ji Mo'dy's Investors Service has upgraded India's sovereign rating for the first time since 2004, citing the nat'on's economic and institutional reforms," tweeted Minister of State for Civil Aviation Jayant Sinha.

--IANS

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