【New Delhi】Global ratings agency Moody’s on the 9th of April raised India’s rating outlook to ‘Positive’ from ‘Stable’. India, however, remains at the last rung of investment grade by all agencies.
Moody’s is the first rating agency that has given India a positive outlook. However, another rating agency Fitch kept the rating outlook at ‘stable’. Both the agencies kept the sovereign rating unchanged. While Moody’s affirmed ‘Baa3’, Fitch maintained ‘BBB-’.
"The upgrade in outlook is significant, but we've to do more," Finance Minister Arun Jaitley said in a tweet.
○44% increase in manufacturing sector losses due to illicit trade: study
【New Delhi】Illicit trade in seven major manufacturing sectors has increased industry losses by 44 per cent in two years from Rs 72,969 crore in 2011-12 to Rs 1,05,381 crore in 2013-14.
Federation of Indian Chambers of Commerce and Industry (Ficci) and the Committee Against Smuggling And Counterfeiting Activities Destroying the Economy (Cascade) commissioned the study, which focused on seven prime manufacturing sectors — auto components, alcoholic beverages, computer hardware, fast moving consumer goods (personal), FMCG packaged foods, mobile phones, tobacco and media and broadcasting.
Government tax (direct and indirect) losses have also increased almost 50 per cent to Rs 39,239 crore in 2014, from Rs 26,190 crore in 2012 due to this.
○India ranks lower than even Nepal
【New Delhi】The Social Progress Index (SPI), released globally on the 9th of April, puts India at 101th place out of 133 countries. Even Nepal and Bangladesh rank higher than India. Norway has bagged the first rank; the U.S. is at the 16th place.
On the parameter ‘Tolerance and inclusion’ India ranks 128th and is at the 120th place on ‘health and wellness’ that, says economist and executive director of the SPI, Michael Green, is the toughest parameter for a country to excel at. As a country becomes richer while tackling sanitation and water becomes easier, tougher challenges emerge such as air pollution and obesity, Dr. Green told The Hindu in an exclusive phone interview.
Moody’s upgrades India’s rating outlook to positive
Moody’s positive on India’s reform path, growth prospects
Moody's outlook upgrade significant, but we need to do more, says FM Arun Jaitley
Moody's upgrades India's rating outlook to positive
44% increase in manufacturing sector losses due to illicit trade: study
India ranks lower than even Nepal
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