Moody’s affirmed India’s sovereign rating at Baa3 and kept a positive outlook
GN Bureau | December 15, 2016
The unprecedented move to demonetise “will have short- and medium-term credit implications for every sector of the economy”, said Moody’s Investors Service.
The latest edition of Moody’s Inside India focuses on the government of India's (Baa3 positive) decision to withdraw all Rs 500 and Rs 1,000 notes. It is approximately 86 percent of all banknotes in circulation by value.
Moody's Inside India also points out that Moody's affirmed India's sovereign rating at Baa3 and kept a positive outlook on the rating because the authorities have taken important steps to strengthen the country's institutions since Moody's initially applied the positive outlook in April 2015.
However, the policy effort has not delivered clear prospects of sustained, high growth and the promise of a reduction in the government's debt burden.
On the country's banks, Moody's outlook on the Indian banking system is stable through 2017, reflecting Moody's assessment that the system is moving past the worst of its asset quality down cycle.
As for the pharmaceutical industry, Moody's and its Indian affiliate, ICRA Limited, say that Indian pharmaceutical companies will continue to seek growth through the acquisition of overseas assets over the next 18-24 months, with the aim of deepening their geographic and product diversity, and further increasing their presence in developed and emerging markets.
Courier services and sales teams have soared into efficiency using smartphone apps to monitor deliveries, visits, timeliness and performance. Taking a leaf from their book, Gujarat is equipping accredited social health activists (ASHAs) and midwives with smartphones and an app to bring down infant and ma
The railway infrastructure consulting PSU, RITES Limited is coming up with its IPO on June 20, 2018, as the government of India is selling its 24 million equity shares (12%) stake in the Mini Ratna PSU. As an initial public offering 25,200,000 equity shares are offered in which employee reservation portion
Speaking to Governance Now, Gujarat chief minister Vijay Rupani elaborates on the Sujalam Sufalam scheme to rejuvenate talavdis and desilt reservoirs and lakes. He also speaks on water, politics, and cons
It’s 10 am and in Dhandhuka town of Ahmedabad district, the sun is already scorching. A dry lake, which was desilted and deepened a few weeks back, has been turned into a venue for a fete. Shamianas have been erected, women in bright sarees and men and children in their best clothes flock the venue,
This story may sound apocryphal but it was recounted by LK Advani in one of his casual conversations. Talking about Morarji Desai, he said that despite his idiosyncrasies, he was a man of impeccable integrity. To buttress his point Advani recalled this incident: After the Janata Party formed the government
Ministry of railways’ decision of holding the listing of Indian Railway Catering and Tourism Corporation (IRCTC) has exposed its seriousness in listing its public enterprises in stock exchanges. Although the decision was taken one year back, the national transporter does not have a com