Government has said that the fundamentals of the economy remain quite robust with inflation under check and bond yields low. It said, India continues to offer strong prospects of growth in near and medium term. An official press release said, the Government of India has noted that the Moody’s Investors Service has changed the outlook on India’s ratings to negative from stable while keeping the foreign-currency and local-currency long-term issuers rating unchanged at Baa2.
The Government said, India continues to be among the fastest growing major economies in the world and its relative standing remains unaffected. IMF in their latest World Economic Outlook has stated that Indian Economy is set to grow at 6.1% in 2019, picking up to 7 % in 2020. As India’s potential growth rate remains unchanged, assessment by IMF and other multilateral organizations continue to underline a positive outlook on India.
The Government has undertaken series of steps and reforms to strengthen the economy as a whole. Government of India has also proactively taken policy decisions in response to the global slowdown. These measures would lead to a positive outlook on India and would attract capital flows and stimulate investments.