Moody's Union Budget for ratings

Moody's Investors Service said on Monday,In MUMBAI India's budget of 2013-14 unveiled last week offers a "realistic" plan to meet the fiscal deficit target of country and should be a credit positive for its ratings.

India's fiscal consolidation plans could pave the way for monetary easing,thus helping revive economic growth.

Moody's investor said this report,This plan of modest fiscal consolidation is credit positive for the sovereign because against a backdrop of subdued GDP growth and upcoming elections, it is a realistic effort to correct India's macroeconomic imbalances. 

Moody's is the only rating agency of the three major credit agencies to have maintained its "stable" outlook on India's ratings.Standard & Poor's and Fitch have the country with a negative outlook.

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