S&P upgrades India's economic outlook for first time since 2010
Image Credit: newsbytes
S&P Global Ratings has revised its outlook for the Indian economy from 'stable' to 'positive', while maintaining rating at 'BBB-', the lowest investment grade rating. This marks the first upgrade in India's economic outlook by the agency since 2010, when it shifted from 'negative' to 'stable.' The revision is attributed to robust growth and improved quality of government expenditure. These ratings are important because they influence the interest rates India has to pay when borrowing money on the international market.