Robust performance

Sustained fiscal consolidation will improve ratings

Just a few days before the votes are counted for the ongoing general elections, which will determine the political composition of the next Union government, S&P Global Ratings, one of the three major global rating agencies, raised its outlook for India to “positive” from “stable” on Wednesday. This is its first outlook revision since 2014. The agency, however, affirmed its sovereign rating for India — the lowest in the investment grade. The outlook revision was driven by factors such as political stability, economic reforms, and long-term growth prospects. The rating agency expects the growth momentum to continue over the next