First in 18 Years: S&P upgrades India’s sovereign rating; Centre vows more reforms for ‘Viksit Bharat @2047’ vision
The central government on Thursday welcomed S&P Global Ratings’ decision to upgrade the country’s long-term sovereign credit rating to ‘BBB’ from ‘BBB-’ and its short-term rating to ‘A-2’ from ‘A-3’, with a Stable Outlook. The last such upgrade came in January 2007, making this the first in 18 years. S&P cited economic resilience, sustained fiscal consolidation,…