Unlike Moody’s, S&P is known to be conservative, says Piyush Goyal

November 24
20:48 2017
Standard & Poor’s today kept its outlook on India stable and lauded the Modi government’s fiscal consolidation drive. The ratings agency retained its BBB- rating while taking a favourable view on reforms being undertaken.

Speaking to ANI, Union Minister Piyush Goyal, said, “It’s an affirmation of the policies of the government being recognised worldwide. S&P has given an overall positive outlook with much praise for Modi govt’s initiative”. 

However on the issue of upgrade, he said, “Didn’t expect any upgrade from S&P at this time. Moody’s has done 2 upgrades so far and S&P is known to be conservative”. 

Speaking to CNBC TV-18, Rajiv Kumar, Vice Chairman of Niti Aayog said, “Status quo would mean S&P not apprised of reforms over the past three years”. 

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