Finance Minister Arun Jaitley has said Moody’s upgradation of India’s rating is a recognition and an endorsement of the reform process which has taken place in India, particularly in the last 3-4 years.
Addressing press conference in New Delhi, Mr Jaitley said, number of structural reforms have taken place which has placed India on a path of high trajectory growth.
He said, India continues to follow a path of fiscal prudence. He said, those who are having doubts regarding the reform process in the country should introspect.
Mr Jaitley said, there will be important emphasis on implementation and reaping the benefits of growth process.
Replying to a media query, he said, Moodys ranking should not be linked with the ongoing assembly elections.
Chief Economic Advisor Arvind Subramanian and Finance Secretary Dr Hasmukh Adhia also welcomed the upgrade of India’s sovereign rating.