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Moody's rating upgrade: Govt to stick to fiscal road map, says Arun Jaitley

The Centre's fiscal deficit target for 2017-18 is 3.2% of GDP

Finance Minister Arun Jaitley
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Finance Minister Arun Jaitley. Illustration: Ajay Mohanty

Dilasha SethArup Roychoudhury New Delhi
A day after dithering on the fiscal glide path, Finance Minister Arun Jaitley, upbeat on the Moody’s upgrade, said the government would maintain fiscal discipline and adhere to the road map suggested by a government-constituted panel. 

“We intend to maintain the fiscal glide path. We believe that the upgrade is a belated recognition of all the positive steps that have been taken in the past few years that contributed to the strengthening of the Indian economy,” Jaitley told a press conference after Moody’s upgraded India’s ratings, giving credit to the Narendra Modi government’s reform initiatives. He added that the government’s track