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Moody's maintains positive outlook on India

Economic Times:  January, 2017

New Delhi: International rating agency Moody's has maintained positive outlook on India and said beyond the short-term negative impact on growth, demonetisation has the potential to raise government revenues and provide some fiscal space to support growth if required.

"We maintained a positive outlook on India’s (Baa3 positive) rating in November 2016 based on our expectation that economic and institutional reforms will support continued robust growth," the agency said in its latest report on AsiaPacific.

It said measures including relaxation of foreign investment restrictions, passage of the Goods and Services Tax, and advancement of a workable bankruptcy code have potential to stimulate private sector investment, which could lead to stable, balanced growth and gradually lower the government debt burden.