economic growth should be supported by the recovering US economy that will provide a market for

Indian merchandise and service exports. Private investment is expected to pick up thanks to the
governments business orientation, and declining oil prices should boost private sector competitiveness,
it said. !he report also argued that economic reforms will need to be fast tracked for India to achieve its
full long"term growth potential.
!he #$%s positive outlook on the Indian economy is consistent with similar endorsements by other
international agencies.
&ating agency Standard and Poors 'S(P) last month raised the outlook on Indias sovereign rating to
stable from negative in a vote of confidence for the new governments handling of the economy,
removing the threat of a downgrade to *unk status.
+%ur outlook revision reflects our view that Indias improved political setting offers a conducive
environment for reforms, which could boost growth prospects and improve fiscal management, S(P said
at the time.
I,-, however, cautioned that the immediate risks to the outlook stem from a sharp tightening of global
financial conditions.triggered, for instance, by greater volatility induced by US monetary policy
normali/ation or a spike in global risk aversion.which could lead to capital outflows, asset price
declines, and higher domestic interest rates. !his risk, it added, is more elevated in countries that depend
to a greater extent on external financing such as in India and Indoneseconomic growth should be
supported by the recovering US economy that will provide a market for Indian merchandise and service
exports. Private investment is expected to pick up thanks to the governments business orientation, and
declining oil prices should boost private sector competitiveness, it said. !he report also argued that
economic reforms will need to be fast tracked for India to achieve its full long"term growth potential.
!he #$%s positive outlook on the Indian economy is consistent with similar endorsements by other
international agencies.
&ating agency Standard and Poors 'S(P) last month raised the outlook on Indias sovereign rating to
stable from negative in a vote of confidence for the new governments handling of the economy,
removing the threat of a downgrade to *unk status.
+%ur outlook revision reflects our view that Indias improved political setting offers a conducive
environment for reforms, which could boost growth prospects and improve fiscal management, S(P said
at the time.
I,-, however, cautioned that the immediate risks to the outlook stem from a sharp tightening of global
financial conditions.triggered, for instance, by greater volatility induced by US monetary policy
normali/ation or a spike in global risk aversion.which could lead to capital outflows, asset price
declines, and higher domestic interest rates. !his risk, it added, is more elevated in countries that depend
to a greater extent on external financing such as in India and Indoneseconomic growth should be
supported by the recovering US economy that will provide a market for Indian merchandise and service
exports. Private investment is expected to pick up thanks to the governments business orientation, and
declining oil prices should boost private sector competitiveness, it said. !he report also argued that
economic reforms will need to be fast tracked for India to achieve its full long"term growth potential.
!he #$%s positive outlook on the Indian economy is consistent with similar endorsements by other
international agencies.
&ating agency Standard and Poors 'S(P) last month raised the outlook on Indias sovereign rating to
stable from negative in a vote of confidence for the new governments handling of the economy,
removing the threat of a downgrade to *unk status.
+%ur outlook revision reflects our view that Indias improved political setting offers a conducive
environment for reforms, which could boost growth prospects and improve fiscal management, S(P said
at the time.
I,-, however, cautioned that the immediate risks to the outlook stem from a sharp tightening of global
financial conditions.triggered, for instance, by greater volatility induced by US monetary policy
normali/ation or a spike in global risk aversion.which could lead to capital outflows, asset price
declines, and higher domestic interest rates. !his risk, it added, is more elevated in countries that depend
to a greater extent on external financing such as in India and Indoneseconomic growth should be
supported by the recovering US economy that will provide a market for Indian merchandise and service
exports. Private investment is expected to pick up thanks to the governments business orientation, and
declining oil prices should boost private sector competitiveness, it said. !he report also argued that
economic reforms will need to be fast tracked for India to achieve its full long"term growth potential.
!he #$%s positive outlook on the Indian economy is consistent with similar endorsements by other
international agencies.
&ating agency Standard and Poors 'S(P) last month raised the outlook on Indias sovereign rating to
stable from negative in a vote of confidence for the new governments handling of the economy,
removing the threat of a downgrade to *unk status.
+%ur outlook revision reflects our view that Indias improved political setting offers a conducive
environment for reforms, which could boost growth prospects and improve fiscal management, S(P said
at the time.
I,-, however, cautioned that the immediate risks to the outlook stem from a sharp tightening of global
financial conditions.triggered, for instance, by greater volatility induced by US monetary policy
normali/ation or a spike in global risk aversion.which could lead to capital outflows, asset price
declines, and higher domestic interest rates. !his risk, it added, is more elevated in countries that depend
to a greater extent on external financing such as in India and Indoneseconomic growth should be
supported by the recovering US economy that will provide a market for Indian merchandise and service
exports. Private investment is expected to pick up thanks to the governments business orientation, and
declining oil prices should boost private sector competitiveness, it said. !he report also argued that
economic reforms will need to be fast tracked for India to achieve its full long"term growth potential.
!he #$%s positive outlook on the Indian economy is consistent with similar endorsements by other
international agencies.
&ating agency Standard and Poors 'S(P) last month raised the outlook on Indias sovereign rating to
stable from negative in a vote of confidence for the new governments handling of the economy,
removing the threat of a downgrade to *unk status.
+%ur outlook revision reflects our view that Indias improved political setting offers a conducive
environment for reforms, which could boost growth prospects and improve fiscal management, S(P said
at the time.
I,-, however, cautioned that the immediate risks to the outlook stem from a sharp tightening of global
financial conditions.triggered, for instance, by greater volatility induced by US monetary policy
normali/ation or a spike in global risk aversion.which could lead to capital outflows, asset price
declines, and higher domestic interest rates. !his risk, it added, is more elevated in countries that depend
to a greater extent on external financing such as in India and Indoneseconomic growth should be
supported by the recovering US economy that will provide a market for Indian merchandise and service
exports. Private investment is expected to pick up thanks to the governments business orientation, and
declining oil prices should boost private sector competitiveness, it said. !he report also argued that
economic reforms will need to be fast tracked for India to achieve its full long"term growth potential.
!he #$%s positive outlook on the Indian economy is consistent with similar endorsements by other
international agencies.
&ating agency Standard and Poors 'S(P) last month raised the outlook on Indias sovereign rating to
stable from negative in a vote of confidence for the new governments handling of the economy,
removing the threat of a downgrade to *unk status.
+%ur outlook revision reflects our view that Indias improved political setting offers a conducive
environment for reforms, which could boost growth prospects and improve fiscal management, S(P said
at the time.
I,-, however, cautioned that the immediate risks to the outlook stem from a sharp tightening of global
financial conditions.triggered, for instance, by greater volatility induced by US monetary policy
normali/ation or a spike in global risk aversion.which could lead to capital outflows, asset price
declines, and higher domestic interest rates. !his risk, it added, is more elevated in countries that depend
to a greater extent on external financing such as in India and Indoneseconomic growth should be
supported by the recovering US economy that will provide a market for Indian merchandise and service
exports. Private investment is expected to pick up thanks to the governments business orientation, and
declining oil prices should boost private sector competitiveness, it said. !he report also argued that
economic reforms will need to be fast tracked for India to achieve its full long"term growth potential.
!he #$%s positive outlook on the Indian economy is consistent with similar endorsements by other
international agencies.
&ating agency Standard and Poors 'S(P) last month raised the outlook on Indias sovereign rating to
stable from negative in a vote of confidence for the new governments handling of the economy,
removing the threat of a downgrade to *unk status.
+%ur outlook revision reflects our view that Indias improved political setting offers a conducive
environment for reforms, which could boost growth prospects and improve fiscal management, S(P said
at the time.
I,-, however, cautioned that the immediate risks to the outlook stem from a sharp tightening of global
financial conditions.triggered, for instance, by greater volatility induced by US monetary policy
normali/ation or a spike in global risk aversion.which could lead to capital outflows, asset price
declines, and higher domestic interest rates. !his risk, it added, is more elevated in countries that depend
to a greater extent on external financing such as in India and Indoneseconomic growth should be
supported by the recovering US economy that will provide a market for Indian merchandise and service
exports. Private investment is expected to pick up thanks to the governments business orientation, and
declining oil prices should boost private sector competitiveness, it said. !he report also argued that
economic reforms will need to be fast tracked for India to achieve its full long"term growth potential.
!he #$%s positive outlook on the Indian economy is consistent with similar endorsements by other
international agencies.
&ating agency Standard and Poors 'S(P) last month raised the outlook on Indias sovereign rating to
stable from negative in a vote of confidence for the new governments handling of the economy,
removing the threat of a downgrade to *unk status.
+%ur outlook revision reflects our view that Indias improved political setting offers a conducive
environment for reforms, which could boost growth prospects and improve fiscal management, S(P said
at the time.
I,-, however, cautioned that the immediate risks to the outlook stem from a sharp tightening of global
financial conditions.triggered, for instance, by greater volatility induced by US monetary policy
normali/ation or a spike in global risk aversion.which could lead to capital outflows, asset price
declines, and higher domestic interest rates. !his risk, it added, is more elevated in countries that depend
to a greater extent on external financing such as in India and Indoneseconomic growth should be
supported by the recovering US economy that will provide a market for Indian merchandise and service
exports. Private investment is expected to pick up thanks to the governments business orientation, and
declining oil prices should boost private sector competitiveness, it said. !he report also argued that
economic reforms will need to be fast tracked for India to achieve its full long"term growth potential.
!he #$%s positive outlook on the Indian economy is consistent with similar endorsements by other
international agencies.
&ating agency Standard and Poors 'S(P) last month raised the outlook on Indias sovereign rating to
stable from negative in a vote of confidence for the new governments handling of the economy,
removing the threat of a downgrade to *unk status.
+%ur outlook revision reflects our view that Indias improved political setting offers a conducive
environment for reforms, which could boost growth prospects and improve fiscal management, S(P said
at the time.
I,-, however, cautioned that the immediate risks to the outlook stem from a sharp tightening of global
financial conditions.triggered, for instance, by greater volatility induced by US monetary policy
normali/ation or a spike in global risk aversion.which could lead to capital outflows, asset price
declines, and higher domestic interest rates. !his risk, it added, is more elevated in countries that depend
to a greater extent on external financing such as in India and Indoneseconomic growth should be
supported by the recovering US economy that will provide a market for Indian merchandise and service
exports. Private investment is expected to pick up thanks to the governments business orientation, and
declining oil prices should boost private sector competitiveness, it said. !he report also argued that
economic reforms will need to be fast tracked for India to achieve its full long"term growth potential.
!he #$%s positive outlook on the Indian economy is consistent with similar endorsements by other
international agencies.
&ating agency Standard and Poors 'S(P) last month raised the outlook on Indias sovereign rating to
stable from negative in a vote of confidence for the new governments handling of the economy,
removing the threat of a downgrade to *unk status.
+%ur outlook revision reflects our view that Indias improved political setting offers a conducive
environment for reforms, which could boost growth prospects and improve fiscal management, S(P said
at the time.
I,-, however, cautioned that the immediate risks to the outlook stem from a sharp tightening of global
financial conditions.triggered, for instance, by greater volatility induced by US monetary policy
normali/ation or a spike in global risk aversion.which could lead to capital outflows, asset price
declines, and higher domestic interest rates. !his risk, it added, is more elevated in countries that depend
to a greater extent on external financing such as in India and Indoneseconomic growth should be
supported by the recovering US economy that will provide a market for Indian merchandise and service
exports. Private investment is expected to pick up thanks to the governments business orientation, and
declining oil prices should boost private sector competitiveness, it said. !he report also argued that
economic reforms will need to be fast tracked for India to achieve its full long"term growth potential.
!he #$%s positive outlook on the Indian economy is consistent with similar endorsements by other
international agencies.
&ating agency Standard and Poors 'S(P) last month raised the outlook on Indias sovereign rating to
stable from negative in a vote of confidence for the new governments handling of the economy,
removing the threat of a downgrade to *unk status.
+%ur outlook revision reflects our view that Indias improved political setting offers a conducive
environment for reforms, which could boost growth prospects and improve fiscal management, S(P said
at the time.
I,-, however, cautioned that the immediate risks to the outlook stem from a sharp tightening of global
financial conditions.triggered, for instance, by greater volatility induced by US monetary policy
normali/ation or a spike in global risk aversion.which could lead to capital outflows, asset price
declines, and higher domestic interest rates. !his risk, it added, is more elevated in countries that depend
to a greater extent on external financing such as in India and Indoneseconomic growth should be
supported by the recovering US economy that will provide a market for Indian merchandise and service
exports. Private investment is expected to pick up thanks to the governments business orientation, and
declining oil prices should boost private sector competitiveness, it said. !he report also argued that
economic reforms will need to be fast tracked for India to achieve its full long"term growth potential.
!he #$%s positive outlook on the Indian economy is consistent with similar endorsements by other
international agencies.
&ating agency Standard and Poors 'S(P) last month raised the outlook on Indias sovereign rating to
stable from negative in a vote of confidence for the new governments handling of the economy,
removing the threat of a downgrade to *unk status.
+%ur outlook revision reflects our view that Indias improved political setting offers a conducive
environment for reforms, which could boost growth prospects and improve fiscal management, S(P said
at the time.
I,-, however, cautioned that the immediate risks to the outlook stem from a sharp tightening of global
financial conditions.triggered, for instance, by greater volatility induced by US monetary policy
normali/ation or a spike in global risk aversion.which could lead to capital outflows, asset price
declines, and higher domestic interest rates. !his risk, it added, is more elevated in countries that depend
to a greater extent on external financing such as in India and Indoneseconomic growth should be
supported by the recovering US economy that will provide a market for Indian merchandise and service
exports. Private investment is expected to pick up thanks to the governments business orientation, and
declining oil prices should boost private sector competitiveness, it said. !he report also argued that
economic reforms will need to be fast tracked for India to achieve its full long"term growth potential.
!he #$%s positive outlook on the Indian economy is consistent with similar endorsements by other
international agencies.
&ating agency Standard and Poors 'S(P) last month raised the outlook on Indias sovereign rating to
stable from negative in a vote of confidence for the new governments handling of the economy,
removing the threat of a downgrade to *unk status.
+%ur outlook revision reflects our view that Indias improved political setting offers a conducive
environment for reforms, which could boost growth prospects and improve fiscal management, S(P said
at the time.
I,-, however, cautioned that the immediate risks to the outlook stem from a sharp tightening of global
financial conditions.triggered, for instance, by greater volatility induced by US monetary policy
normali/ation or a spike in global risk aversion.which could lead to capital outflows, asset price
declines, and higher domestic interest rates. !his risk, it added, is more elevated in countries that depend
to a greater extent on external financing such as in India and Indoneseconomic growth should be
supported by the recovering US economy that will provide a market for Indian merchandise and service
exports. Private investment is expected to pick up thanks to the governments business orientation, and
declining oil prices should boost private sector competitiveness, it said. !he report also argued that
economic reforms will need to be fast tracked for India to achieve its full long"term growth potential.
!he #$%s positive outlook on the Indian economy is consistent with similar endorsements by other
international agencies.
&ating agency Standard and Poors 'S(P) last month raised the outlook on Indias sovereign rating to
stable from negative in a vote of confidence for the new governments handling of the economy,
removing the threat of a downgrade to *unk status.
+%ur outlook revision reflects our view that Indias improved political setting offers a conducive
environment for reforms, which could boost growth prospects and improve fiscal management, S(P said
at the time.
I,-, however, cautioned that the immediate risks to the outlook stem from a sharp tightening of global
financial conditions.triggered, for instance, by greater volatility induced by US monetary policy
normali/ation or a spike in global risk aversion.which could lead to capital outflows, asset price
declines, and higher domestic interest rates. !his risk, it added, is more elevated in countries that depend
to a greater extent on external financing such as in India and Indoneseconomic growth should be
supported by the recovering US economy that will provide a market for Indian merchandise and service
exports. Private investment is expected to pick up thanks to the governments business orientation, and
declining oil prices should boost private sector competitiveness, it said. !he report also argued that
economic reforms will need to be fast tracked for India to achieve its full long"term growth potential.
!he #$%s positive outlook on the Indian economy is consistent with similar endorsements by other
international agencies.
&ating agency Standard and Poors 'S(P) last month raised the outlook on Indias sovereign rating to
stable from negative in a vote of confidence for the new governments handling of the economy,
removing the threat of a downgrade to *unk status.
+%ur outlook revision reflects our view that Indias improved political setting offers a conducive
environment for reforms, which could boost growth prospects and improve fiscal management, S(P said
at the time.
I,-, however, cautioned that the immediate risks to the outlook stem from a sharp tightening of global
financial conditions.triggered, for instance, by greater volatility induced by US monetary policy
normali/ation or a spike in global risk aversion.which could lead to capital outflows, asset price
declines, and higher domestic interest rates. !his risk, it added, is more elevated in countries that depend
to a greater extent on external financing such as in India and Indoneseconomic growth should be
supported by the recovering US economy that will provide a market for Indian merchandise and service
exports. Private investment is expected to pick up thanks to the governments business orientation, and
declining oil prices should boost private sector competitiveness, it said. !he report also argued that
economic reforms will need to be fast tracked for India to achieve its full long"term growth potential.
!he #$%s positive outlook on the Indian economy is consistent with similar endorsements by other
international agencies.
&ating agency Standard and Poors 'S(P) last month raised the outlook on Indias sovereign rating to
stable from negative in a vote of confidence for the new governments handling of the economy,
removing the threat of a downgrade to *unk status.
+%ur outlook revision reflects our view that Indias improved political setting offers a conducive
environment for reforms, which could boost growth prospects and improve fiscal management, S(P said
at the time.
I,-, however, cautioned that the immediate risks to the outlook stem from a sharp tightening of global
financial conditions.triggered, for instance, by greater volatility induced by US monetary policy
normali/ation or a spike in global risk aversion.which could lead to capital outflows, asset price
declines, and higher domestic interest rates. !his risk, it added, is more elevated in countries that depend
to a greater extent on external financing such as in India and Indoneseconomic growth should be
supported by the recovering US economy that will provide a market for Indian merchandise and service
exports. Private investment is expected to pick up thanks to the governments business orientation, and
declining oil prices should boost private sector competitiveness, it said. !he report also argued that
economic reforms will need to be fast tracked for India to achieve its full long"term growth potential.
!he #$%s positive outlook on the Indian economy is consistent with similar endorsements by other
international agencies.
&ating agency Standard and Poors 'S(P) last month raised the outlook on Indias sovereign rating to
stable from negative in a vote of confidence for the new governments handling of the economy,
removing the threat of a downgrade to *unk status.
+%ur outlook revision reflects our view that Indias improved political setting offers a conducive
environment for reforms, which could boost growth prospects and improve fiscal management, S(P said
at the time.
I,-, however, cautioned that the immediate risks to the outlook stem from a sharp tightening of global
financial conditions.triggered, for instance, by greater volatility induced by US monetary policy
normali/ation or a spike in global risk aversion.which could lead to capital outflows, asset price
declines, and higher domestic interest rates. !his risk, it added, is more elevated in countries that depend
to a greater extent on external financing such as in India and Indoneseconomic growth should be
supported by the recovering US economy that will provide a market for Indian merchandise and service
exports. Private investment is expected to pick up thanks to the governments business orientation, and
declining oil prices should boost private sector competitiveness, it said. !he report also argued that
economic reforms will need to be fast tracked for India to achieve its full long"term growth potential.
!he #$%s positive outlook on the Indian economy is consistent with similar endorsements by other
international agencies.
&ating agency Standard and Poors 'S(P) last month raised the outlook on Indias sovereign rating to
stable from negative in a vote of confidence for the new governments handling of the economy,
removing the threat of a downgrade to *unk status.
+%ur outlook revision reflects our view that Indias improved political setting offers a conducive
environment for reforms, which could boost growth prospects and improve fiscal management, S(P said
at the time.
I,-, however, cautioned that the immediate risks to the outlook stem from a sharp tightening of global
financial conditions.triggered, for instance, by greater volatility induced by US monetary policy
normali/ation or a spike in global risk aversion.which could lead to capital outflows, asset price
declines, and higher domestic interest rates. !his risk, it added, is more elevated in countries that depend
to a greater extent on external financing such as in India and Indoneseconomic growth should be
supported by the recovering US economy that will provide a market for Indian merchandise and service
exports. Private investment is expected to pick up thanks to the governments business orientation, and
declining oil prices should boost private sector competitiveness, it said. !he report also argued that
economic reforms will need to be fast tracked for India to achieve its full long"term growth potential.
!he #$%s positive outlook on the Indian economy is consistent with similar endorsements by other
international agencies.
&ating agency Standard and Poors 'S(P) last month raised the outlook on Indias sovereign rating to
stable from negative in a vote of confidence for the new governments handling of the economy,
removing the threat of a downgrade to *unk status.
+%ur outlook revision reflects our view that Indias improved political setting offers a conducive
environment for reforms, which could boost growth prospects and improve fiscal management, S(P said
at the time.
I,-, however, cautioned that the immediate risks to the outlook stem from a sharp tightening of global
financial conditions.triggered, for instance, by greater volatility induced by US monetary policy
normali/ation or a spike in global risk aversion.which could lead to capital outflows, asset price
declines, and higher domestic interest rates. !his risk, it added, is more elevated in countries that depend
to a greater extent on external financing such as in India and Indoneseconomic growth should be
supported by the recovering US economy that will provide a market for Indian merchandise and service
exports. Private investment is expected to pick up thanks to the governments business orientation, and
declining oil prices should boost private sector competitiveness, it said. !he report also argued that
economic reforms will need to be fast tracked for India to achieve its full long"term growth potential.
!he #$%s positive outlook on the Indian economy is consistent with similar endorsements by other
international agencies.
&ating agency Standard and Poors 'S(P) last month raised the outlook on Indias sovereign rating to
stable from negative in a vote of confidence for the new governments handling of the economy,
removing the threat of a downgrade to *unk status.
+%ur outlook revision reflects our view that Indias improved political setting offers a conducive
environment for reforms, which could boost growth prospects and improve fiscal management, S(P said
at the time.
I,-, however, cautioned that the immediate risks to the outlook stem from a sharp tightening of global
financial conditions.triggered, for instance, by greater volatility induced by US monetary policy
normali/ation or a spike in global risk aversion.which could lead to capital outflows, asset price
declines, and higher domestic interest rates. !his risk, it added, is more elevated in countries that depend
to a greater extent on external financing such as in India and Indoneseconomic growth should be
supported by the recovering US economy that will provide a market for Indian merchandise and service
exports. Private investment is expected to pick up thanks to the governments business orientation, and
declining oil prices should boost private sector competitiveness, it said. !he report also argued that
economic reforms will need to be fast tracked for India to achieve its full long"term growth potential.
!he #$%s positive outlook on the Indian economy is consistent with similar endorsements by other
international agencies.
&ating agency Standard and Poors 'S(P) last month raised the outlook on Indias sovereign rating to
stable from negative in a vote of confidence for the new governments handling of the economy,
removing the threat of a downgrade to *unk status.
+%ur outlook revision reflects our view that Indias improved political setting offers a conducive
environment for reforms, which could boost growth prospects and improve fiscal management, S(P said
at the time.
I,-, however, cautioned that the immediate risks to the outlook stem from a sharp tightening of global
financial conditions.triggered, for instance, by greater volatility induced by US monetary policy
normali/ation or a spike in global risk aversion.which could lead to capital outflows, asset price
declines, and higher domestic interest rates. !his risk, it added, is more elevated in countries that depend
to a greater extent on external financing such as in India and Indoneseconomic growth should be
supported by the recovering US economy that will provide a market for Indian merchandise and service
exports. Private investment is expected to pick up thanks to the governments business orientation, and
declining oil prices should boost private sector competitiveness, it said. !he report also argued that
economic reforms will need to be fast tracked for India to achieve its full long"term growth potential.
!he #$%s positive outlook on the Indian economy is consistent with similar endorsements by other
international agencies.
&ating agency Standard and Poors 'S(P) last month raised the outlook on Indias sovereign rating to
stable from negative in a vote of confidence for the new governments handling of the economy,
removing the threat of a downgrade to *unk status.
+%ur outlook revision reflects our view that Indias improved political setting offers a conducive
environment for reforms, which could boost growth prospects and improve fiscal management, S(P said
at the time.
I,-, however, cautioned that the immediate risks to the outlook stem from a sharp tightening of global
financial conditions.triggered, for instance, by greater volatility induced by US monetary policy
normali/ation or a spike in global risk aversion.which could lead to capital outflows, asset price
declines, and higher domestic interest rates. !his risk, it added, is more elevated in countries that depend
to a greater extent on external financing such as in India and Indoneseconomic growth should be
supported by the recovering US economy that will provide a market for Indian merchandise and service
exports. Private investment is expected to pick up thanks to the governments business orientation, and
declining oil prices should boost private sector competitiveness, it said. !he report also argued that
economic reforms will need to be fast tracked for India to achieve its full long"term growth potential.
!he #$%s positive outlook on the Indian economy is consistent with similar endorsements by other
international agencies.
&ating agency Standard and Poors 'S(P) last month raised the outlook on Indias sovereign rating to
stable from negative in a vote of confidence for the new governments handling of the economy,
removing the threat of a downgrade to *unk status.
+%ur outlook revision reflects our view that Indias improved political setting offers a conducive
environment for reforms, which could boost growth prospects and improve fiscal management, S(P said
at the time.
I,-, however, cautioned that the immediate risks to the outlook stem from a sharp tightening of global
financial conditions.triggered, for instance, by greater volatility induced by US monetary policy
normali/ation or a spike in global risk aversion.which could lead to capital outflows, asset price
declines, and higher domestic interest rates. !his risk, it added, is more elevated in countries that depend
to a greater extent on external financing such as in India and Indoneseconomic growth should be
supported by the recovering US economy that will provide a market for Indian merchandise and service
exports. Private investment is expected to pick up thanks to the governments business orientation, and
declining oil prices should boost private sector competitiveness, it said. !he report also argued that
economic reforms will need to be fast tracked for India to achieve its full long"term growth potential.
!he #$%s positive outlook on the Indian economy is consistent with similar endorsements by other
international agencies.
&ating agency Standard and Poors 'S(P) last month raised the outlook on Indias sovereign rating to
stable from negative in a vote of confidence for the new governments handling of the economy,
removing the threat of a downgrade to *unk status.
+%ur outlook revision reflects our view that Indias improved political setting offers a conducive
environment for reforms, which could boost growth prospects and improve fiscal management, S(P said
at the time.
I,-, however, cautioned that the immediate risks to the outlook stem from a sharp tightening of global
financial conditions.triggered, for instance, by greater volatility induced by US monetary policy
normali/ation or a spike in global risk aversion.which could lead to capital outflows, asset price
declines, and higher domestic interest rates. !his risk, it added, is more elevated in countries that depend
to a greater extent on external financing such as in India and Indoneseconomic growth should be
supported by the recovering US economy that will provide a market for Indian merchandise and service
exports. Private investment is expected to pick up thanks to the governments business orientation, and
declining oil prices should boost private sector competitiveness, it said. !he report also argued that
economic reforms will need to be fast tracked for India to achieve its full long"term growth potential.
!he #$%s positive outlook on the Indian economy is consistent with similar endorsements by other
international agencies.
&ating agency Standard and Poors 'S(P) last month raised the outlook on Indias sovereign rating to
stable from negative in a vote of confidence for the new governments handling of the economy,
removing the threat of a downgrade to *unk status.
+%ur outlook revision reflects our view that Indias improved political setting offers a conducive
environment for reforms, which could boost growth prospects and improve fiscal management, S(P said
at the time.
I,-, however, cautioned that the immediate risks to the outlook stem from a sharp tightening of global
financial conditions.triggered, for instance, by greater volatility induced by US monetary policy
normali/ation or a spike in global risk aversion.which could lead to capital outflows, asset price
declines, and higher domestic interest rates. !his risk, it added, is more elevated in countries that depend
to a greater extent on external financing such as in India and Indoneseconomic growth should be
supported by the recovering US economy that will provide a market for Indian merchandise and service
exports. Private investment is expected to pick up thanks to the governments business orientation, and
declining oil prices should boost private sector competitiveness, it said. !he report also argued that
economic reforms will need to be fast tracked for India to achieve its full long"term growth potential.
!he #$%s positive outlook on the Indian economy is consistent with similar endorsements by other
international agencies.
&ating agency Standard and Poors 'S(P) last month raised the outlook on Indias sovereign rating to
stable from negative in a vote of confidence for the new governments handling of the economy,
removing the threat of a downgrade to *unk status.
+%ur outlook revision reflects our view that Indias improved political setting offers a conducive
environment for reforms, which could boost growth prospects and improve fiscal management, S(P said
at the time.
I,-, however, cautioned that the immediate risks to the outlook stem from a sharp tightening of global
financial conditions.triggered, for instance, by greater volatility induced by US monetary policy
normali/ation or a spike in global risk aversion.which could lead to capital outflows, asset price
declines, and higher domestic interest rates. !his risk, it added, is more elevated in countries that depend
to a greater extent on external financing such as in India and Indoneseconomic growth should be
supported by the recovering US economy that will provide a market for Indian merchandise and service
exports. Private investment is expected to pick up thanks to the governments business orientation, and
declining oil prices should boost private sector competitiveness, it said. !he report also argued that
economic reforms will need to be fast tracked for India to achieve its full long"term growth potential.
!he #$%s positive outlook on the Indian economy is consistent with similar endorsements by other
international agencies.
&ating agency Standard and Poors 'S(P) last month raised the outlook on Indias sovereign rating to
stable from negative in a vote of confidence for the new governments handling of the economy,
removing the threat of a downgrade to *unk status.
+%ur outlook revision reflects our view that Indias improved political setting offers a conducive
environment for reforms, which could boost growth prospects and improve fiscal management, S(P said
at the time.
I,-, however, cautioned that the immediate risks to the outlook stem from a sharp tightening of global
financial conditions.triggered, for instance, by greater volatility induced by US monetary policy
normali/ation or a spike in global risk aversion.which could lead to capital outflows, asset price
declines, and higher domestic interest rates. !his risk, it added, is more elevated in countries that depend
to a greater extent on external financing such as in India and Indoneseconomic growth should be
supported by the recovering US economy that will provide a market for Indian merchandise and service
exports. Private investment is expected to pick up thanks to the governments business orientation, and
declining oil prices should boost private sector competitiveness, it said. !he report also argued that
economic reforms will need to be fast tracked for India to achieve its full long"term growth potential.
!he #$%s positive outlook on the Indian economy is consistent with similar endorsements by other
international agencies.
&ating agency Standard and Poors 'S(P) last month raised the outlook on Indias sovereign rating to
stable from negative in a vote of confidence for the new governments handling of the economy,
removing the threat of a downgrade to *unk status.
+%ur outlook revision reflects our view that Indias improved political setting offers a conducive
environment for reforms, which could boost growth prospects and improve fiscal management, S(P said
at the time.
I,-, however, cautioned that the immediate risks to the outlook stem from a sharp tightening of global
financial conditions.triggered, for instance, by greater volatility induced by US monetary policy
normali/ation or a spike in global risk aversion.which could lead to capital outflows, asset price
declines, and higher domestic interest rates. !his risk, it added, is more elevated in countries that depend
to a greater extent on external financing such as in India and Indoneseconomic growth should be
supported by the recovering US economy that will provide a market for Indian merchandise and service
exports. Private investment is expected to pick up thanks to the governments business orientation, and
declining oil prices should boost private sector competitiveness, it said. !he report also argued that
economic reforms will need to be fast tracked for India to achieve its full long"term growth potential.
!he #$%s positive outlook on the Indian economy is consistent with similar endorsements by other
international agencies.
&ating agency Standard and Poors 'S(P) last month raised the outlook on Indias sovereign rating to
stable from negative in a vote of confidence for the new governments handling of the economy,
removing the threat of a downgrade to *unk status.
+%ur outlook revision reflects our view that Indias improved political setting offers a conducive
environment for reforms, which could boost growth prospects and improve fiscal management, S(P said
at the time.
I,-, however, cautioned that the immediate risks to the outlook stem from a sharp tightening of global
financial conditions.triggered, for instance, by greater volatility induced by US monetary policy
normali/ation or a spike in global risk aversion.which could lead to capital outflows, asset price
declines, and higher domestic interest rates. !his risk, it added, is more elevated in countries that depend
to a greater extent on external financing such as in India and Indoneseconomic growth should be
supported by the recovering US economy that will provide a market for Indian merchandise and service
exports. Private investment is expected to pick up thanks to the governments business orientation, and
declining oil prices should boost private sector competitiveness, it said. !he report also argued that
economic reforms will need to be fast tracked for India to achieve its full long"term growth potential.
!he #$%s positive outlook on the Indian economy is consistent with similar endorsements by other
international agencies.
&ating agency Standard and Poors 'S(P) last month raised the outlook on Indias sovereign rating to
stable from negative in a vote of confidence for the new governments handling of the economy,
removing the threat of a downgrade to *unk status.
+%ur outlook revision reflects our view that Indias improved political setting offers a conducive
environment for reforms, which could boost growth prospects and improve fiscal management, S(P said
at the time.
I,-, however, cautioned that the immediate risks to the outlook stem from a sharp tightening of global
financial conditions.triggered, for instance, by greater volatility induced by US monetary policy
normali/ation or a spike in global risk aversion.which could lead to capital outflows, asset price
declines, and higher domestic interest rates. !his risk, it added, is more elevated in countries that depend
to a greater extent on external financing such as in India and Indoneseconomic growth should be
supported by the recovering US economy that will provide a market for Indian merchandise and service
exports. Private investment is expected to pick up thanks to the governments business orientation, and
declining oil prices should boost private sector competitiveness, it said. !he report also argued that
economic reforms will need to be fast tracked for India to achieve its full long"term growth potential.
!he #$%s positive outlook on the Indian economy is consistent with similar endorsements by other
international agencies.
&ating agency Standard and Poors 'S(P) last month raised the outlook on Indias sovereign rating to
stable from negative in a vote of confidence for the new governments handling of the economy,
removing the threat of a downgrade to *unk status.
+%ur outlook revision reflects our view that Indias improved political setting offers a conducive
environment for reforms, which could boost growth prospects and improve fiscal management, S(P said
at the time.
I,-, however, cautioned that the immediate risks to the outlook stem from a sharp tightening of global
financial conditions.triggered, for instance, by greater volatility induced by US monetary policy
normali/ation or a spike in global risk aversion.which could lead to capital outflows, asset price
declines, and higher domestic interest rates. !his risk, it added, is more elevated in countries that depend
to a greater extent on external financing such as in India and Indoneseconomic growth should be
supported by the recovering US economy that will provide a market for Indian merchandise and service
exports. Private investment is expected to pick up thanks to the governments business orientation, and
declining oil prices should boost private sector competitiveness, it said. !he report also argued that
economic reforms will need to be fast tracked for India to achieve its full long"term growth potential.
!he #$%s positive outlook on the Indian economy is consistent with similar endorsements by other
international agencies.
&ating agency Standard and Poors 'S(P) last month raised the outlook on Indias sovereign rating to
stable from negative in a vote of confidence for the new governments handling of the economy,
removing the threat of a downgrade to *unk status.
+%ur outlook revision reflects our view that Indias improved political setting offers a conducive
environment for reforms, which could boost growth prospects and improve fiscal management, S(P said
at the time.
I,-, however, cautioned that the immediate risks to the outlook stem from a sharp tightening of global
financial conditions.triggered, for instance, by greater volatility induced by US monetary policy
normali/ation or a spike in global risk aversion.which could lead to capital outflows, asset price
declines, and higher domestic interest rates. !his risk, it added, is more elevated in countries that depend
to a greater extent on external financing such as in India and Indoneseconomic growth should be
supported by the recovering US economy that will provide a market for Indian merchandise and service
exports. Private investment is expected to pick up thanks to the governments business orientation, and
declining oil prices should boost private sector competitiveness, it said. !he report also argued that
economic reforms will need to be fast tracked for India to achieve its full long"term growth potential.
!he #$%s positive outlook on the Indian economy is consistent with similar endorsements by other
international agencies.
&ating agency Standard and Poors 'S(P) last month raised the outlook on Indias sovereign rating to
stable from negative in a vote of confidence for the new governments handling of the economy,
removing the threat of a downgrade to *unk status.
+%ur outlook revision reflects our view that Indias improved political setting offers a conducive
environment for reforms, which could boost growth prospects and improve fiscal management, S(P said
at the time.
I,-, however, cautioned that the immediate risks to the outlook stem from a sharp tightening of global
financial conditions.triggered, for instance, by greater volatility induced by US monetary policy
normali/ation or a spike in global risk aversion.which could lead to capital outflows, asset price
declines, and higher domestic interest rates. !his risk, it added, is more elevated in countries that depend
to a greater extent on external financing such as in India and Indoneseconomic growth should be
supported by the recovering US economy that will provide a market for Indian merchandise and service
exports. Private investment is expected to pick up thanks to the governments business orientation, and
declining oil prices should boost private sector competitiveness, it said. !he report also argued that
economic reforms will need to be fast tracked for India to achieve its full long"term growth potential.
!he #$%s positive outlook on the Indian economy is consistent with similar endorsements by other
international agencies.
&ating agency Standard and Poors 'S(P) last month raised the outlook on Indias sovereign rating to
stable from negative in a vote of confidence for the new governments handling of the economy,
removing the threat of a downgrade to *unk status.
+%ur outlook revision reflects our view that Indias improved political setting offers a conducive
environment for reforms, which could boost growth prospects and improve fiscal management, S(P said
at the time.
I,-, however, cautioned that the immediate risks to the outlook stem from a sharp tightening of global
financial conditions.triggered, for instance, by greater volatility induced by US monetary policy
normali/ation or a spike in global risk aversion.which could lead to capital outflows, asset price
declines, and higher domestic interest rates. !his risk, it added, is more elevated in countries that depend
to a greater extent on external financing such as in India and Indoneseconomic growth should be
supported by the recovering US economy that will provide a market for Indian merchandise and service
exports. Private investment is expected to pick up thanks to the governments business orientation, and
declining oil prices should boost private sector competitiveness, it said. !he report also argued that
economic reforms will need to be fast tracked for India to achieve its full long"term growth potential.
!he #$%s positive outlook on the Indian economy is consistent with similar endorsements by other
international agencies.
&ating agency Standard and Poors 'S(P) last month raised the outlook on Indias sovereign rating to
stable from negative in a vote of confidence for the new governments handling of the economy,
removing the threat of a downgrade to *unk status.
+%ur outlook revision reflects our view that Indias improved political setting offers a conducive
environment for reforms, which could boost growth prospects and improve fiscal management, S(P said
at the time.
I,-, however, cautioned that the immediate risks to the outlook stem from a sharp tightening of global
financial conditions.triggered, for instance, by greater volatility induced by US monetary policy
normali/ation or a spike in global risk aversion.which could lead to capital outflows, asset price
declines, and higher domestic interest rates. !his risk, it added, is more elevated in countries that depend
to a greater extent on external financing such as in India and Indoneseconomic growth should be
supported by the recovering US economy that will provide a market for Indian merchandise and service
exports. Private investment is expected to pick up thanks to the governments business orientation, and
declining oil prices should boost private sector competitiveness, it said. !he report also argued that
economic reforms will need to be fast tracked for India to achieve its full long"term growth potential.
!he #$%s positive outlook on the Indian economy is consistent with similar endorsements by other
international agencies.
&ating agency Standard and Poors 'S(P) last month raised the outlook on Indias sovereign rating to
stable from negative in a vote of confidence for the new governments handling of the economy,
removing the threat of a downgrade to *unk status.
+%ur outlook revision reflects our view that Indias improved political setting offers a conducive
environment for reforms, which could boost growth prospects and improve fiscal management, S(P said
at the time.
I,-, however, cautioned that the immediate risks to the outlook stem from a sharp tightening of global
financial conditions.triggered, for instance, by greater volatility induced by US monetary policy
normali/ation or a spike in global risk aversion.which could lead to capital outflows, asset price
declines, and higher domestic interest rates. !his risk, it added, is more elevated in countries that depend
to a greater extent on external financing such as in India and Indoneseconomic growth should be
supported by the recovering US economy that will provide a market for Indian merchandise and service
exports. Private investment is expected to pick up thanks to the governments business orientation, and
declining oil prices should boost private sector competitiveness, it said. !he report also argued that
economic reforms will need to be fast tracked for India to achieve its full long"term growth potential.
!he #$%s positive outlook on the Indian economy is consistent with similar endorsements by other
international agencies.
&ating agency Standard and Poors 'S(P) last month raised the outlook on Indias sovereign rating to
stable from negative in a vote of confidence for the new governments handling of the economy,
removing the threat of a downgrade to *unk status.
+%ur outlook revision reflects our view that Indias improved political setting offers a conducive
environment for reforms, which could boost growth prospects and improve fiscal management, S(P said
at the time.
I,-, however, cautioned that the immediate risks to the outlook stem from a sharp tightening of global
financial conditions.triggered, for instance, by greater volatility induced by US monetary policy
normali/ation or a spike in global risk aversion.which could lead to capital outflows, asset price
declines, and higher domestic interest rates. !his risk, it added, is more elevated in countries that depend
to a greater extent on external financing such as in India and Indoneseconomic growth should be
supported by the recovering US economy that will provide a market for Indian merchandise and service
exports. Private investment is expected to pick up thanks to the governments business orientation, and
declining oil prices should boost private sector competitiveness, it said. !he report also argued that
economic reforms will need to be fast tracked for India to achieve its full long"term growth potential.
!he #$%s positive outlook on the Indian economy is consistent with similar endorsements by other
international agencies.
&ating agency Standard and Poors 'S(P) last month raised the outlook on Indias sovereign rating to
stable from negative in a vote of confidence for the new governments handling of the economy,
removing the threat of a downgrade to *unk status.
+%ur outlook revision reflects our view that Indias improved political setting offers a conducive
environment for reforms, which could boost growth prospects and improve fiscal management, S(P said
at the time.
I,-, however, cautioned that the immediate risks to the outlook stem from a sharp tightening of global
financial conditions.triggered, for instance, by greater volatility induced by US monetary policy
normali/ation or a spike in global risk aversion.which could lead to capital outflows, asset price
declines, and higher domestic interest rates. !his risk, it added, is more elevated in countries that depend
to a greater extent on external financing such as in India and Indoneseconomic growth should be
supported by the recovering US economy that will provide a market for Indian merchandise and service
exports. Private investment is expected to pick up thanks to the governments business orientation, and
declining oil prices should boost private sector competitiveness, it said. !he report also argued that
economic reforms will need to be fast tracked for India to achieve its full long"term growth potential.
!he #$%s positive outlook on the Indian economy is consistent with similar endorsements by other
international agencies.
&ating agency Standard and Poors 'S(P) last month raised the outlook on Indias sovereign rating to
stable from negative in a vote of confidence for the new governments handling of the economy,
removing the threat of a downgrade to *unk status.
+%ur outlook revision reflects our view that Indias improved political setting offers a conducive
environment for reforms, which could boost growth prospects and improve fiscal management, S(P said
at the time.
I,-, however, cautioned that the immediate risks to the outlook stem from a sharp tightening of global
financial conditions.triggered, for instance, by greater volatility induced by US monetary policy
normali/ation or a spike in global risk aversion.which could lead to capital outflows, asset price
declines, and higher domestic interest rates. !his risk, it added, is more elevated in countries that depend
to a greater extent on external financing such as in India and Indoneseconomic growth should be
supported by the recovering US economy that will provide a market for Indian merchandise and service
exports. Private investment is expected to pick up thanks to the governments business orientation, and
declining oil prices should boost private sector competitiveness, it said. !he report also argued that
economic reforms will need to be fast tracked for India to achieve its full long"term growth potential.
!he #$%s positive outlook on the Indian economy is consistent with similar endorsements by other
international agencies.
&ating agency Standard and Poors 'S(P) last month raised the outlook on Indias sovereign rating to
stable from negative in a vote of confidence for the new governments handling of the economy,
removing the threat of a downgrade to *unk status.
+%ur outlook revision reflects our view that Indias improved political setting offers a conducive
environment for reforms, which could boost growth prospects and improve fiscal management, S(P said
at the time.
I,-, however, cautioned that the immediate risks to the outlook stem from a sharp tightening of global
financial conditions.triggered, for instance, by greater volatility induced by US monetary policy
normali/ation or a spike in global risk aversion.which could lead to capital outflows, asset price
declines, and higher domestic interest rates. !his risk, it added, is more elevated in countries that depend
to a greater extent on external financing such as in India and Indoneseconomic growth should be
supported by the recovering US economy that will provide a market for Indian merchandise and service
exports. Private investment is expected to pick up thanks to the governments business orientation, and
declining oil prices should boost private sector competitiveness, it said. !he report also argued that
economic reforms will need to be fast tracked for India to achieve its full long"term growth potential.
!he #$%s positive outlook on the Indian economy is consistent with similar endorsements by other
international agencies.
&ating agency Standard and Poors 'S(P) last month raised the outlook on Indias sovereign rating to
stable from negative in a vote of confidence for the new governments handling of the economy,
removing the threat of a downgrade to *unk status.
+%ur outlook revision reflects our view that Indias improved political setting offers a conducive
environment for reforms, which could boost growth prospects and improve fiscal management, S(P said
at the time.
I,-, however, cautioned that the immediate risks to the outlook stem from a sharp tightening of global
financial conditions.triggered, for instance, by greater volatility induced by US monetary policy
normali/ation or a spike in global risk aversion.which could lead to capital outflows, asset price
declines, and higher domestic interest rates. !his risk, it added, is more elevated in countries that depend
to a greater extent on external financing such as in India and Indoneseconomic growth should be
supported by the recovering US economy that will provide a market for Indian merchandise and service
exports. Private investment is expected to pick up thanks to the governments business orientation, and
declining oil prices should boost private sector competitiveness, it said. !he report also argued that
economic reforms will need to be fast tracked for India to achieve its full long"term growth potential.
!he #$%s positive outlook on the Indian economy is consistent with similar endorsements by other
international agencies.
&ating agency Standard and Poors 'S(P) last month raised the outlook on Indias sovereign rating to
stable from negative in a vote of confidence for the new governments handling of the economy,
removing the threat of a downgrade to *unk status.
+%ur outlook revision reflects our view that Indias improved political setting offers a conducive
environment for reforms, which could boost growth prospects and improve fiscal management, S(P said
at the time.
I,-, however, cautioned that the immediate risks to the outlook stem from a sharp tightening of global
financial conditions.triggered, for instance, by greater volatility induced by US monetary policy
normali/ation or a spike in global risk aversion.which could lead to capital outflows, asset price
declines, and higher domestic interest rates. !his risk, it added, is more elevated in countries that depend
to a greater extent on external financing such as in India and Indoneseconomic growth should be
supported by the recovering US economy that will provide a market for Indian merchandise and service
exports. Private investment is expected to pick up thanks to the governments business orientation, and
declining oil prices should boost private sector competitiveness, it said. !he report also argued that
economic reforms will need to be fast tracked for India to achieve its full long"term growth potential.
!he #$%s positive outlook on the Indian economy is consistent with similar endorsements by other
international agencies.
&ating agency Standard and Poors 'S(P) last month raised the outlook on Indias sovereign rating to
stable from negative in a vote of confidence for the new governments handling of the economy,
removing the threat of a downgrade to *unk status.
+%ur outlook revision reflects our view that Indias improved political setting offers a conducive
environment for reforms, which could boost growth prospects and improve fiscal management, S(P said
at the time.
I,-, however, cautioned that the immediate risks to the outlook stem from a sharp tightening of global
financial conditions.triggered, for instance, by greater volatility induced by US monetary policy
normali/ation or a spike in global risk aversion.which could lead to capital outflows, asset price
declines, and higher domestic interest rates. !his risk, it added, is more elevated in countries that depend
to a greater extent on external financing such as in India and Indoneseconomic growth should be
supported by the recovering US economy that will provide a market for Indian merchandise and service
exports. Private investment is expected to pick up thanks to the governments business orientation, and
declining oil prices should boost private sector competitiveness, it said. !he report also argued that
economic reforms will need to be fast tracked for India to achieve its full long"term growth potential.
!he #$%s positive outlook on the Indian economy is consistent with similar endorsements by other
international agencies.
&ating agency Standard and Poors 'S(P) last month raised the outlook on Indias sovereign rating to
stable from negative in a vote of confidence for the new governments handling of the economy,
removing the threat of a downgrade to *unk status.
+%ur outlook revision reflects our view that Indias improved political setting offers a conducive
environment for reforms, which could boost growth prospects and improve fiscal management, S(P said
at the time.
I,-, however, cautioned that the immediate risks to the outlook stem from a sharp tightening of global
financial conditions.triggered, for instance, by greater volatility induced by US monetary policy
normali/ation or a spike in global risk aversion.which could lead to capital outflows, asset price
declines, and higher domestic interest rates. !his risk, it added, is more elevated in countries that depend
to a greater extent on external financing such as in India and Indoneseconomic growth should be
supported by the recovering US economy that will provide a market for Indian merchandise and service
exports. Private investment is expected to pick up thanks to the governments business orientation, and
declining oil prices should boost private sector competitiveness, it said. !he report also argued that
economic reforms will need to be fast tracked for India to achieve its full long"term growth potential.
!he #$%s positive outlook on the Indian economy is consistent with similar endorsements by other
international agencies.
&ating agency Standard and Poors 'S(P) last month raised the outlook on Indias sovereign rating to
stable from negative in a vote of confidence for the new governments handling of the economy,
removing the threat of a downgrade to *unk status.
+%ur outlook revision reflects our view that Indias improved political setting offers a conducive
environment for reforms, which could boost growth prospects and improve fiscal management, S(P said
at the time.
I,-, however, cautioned that the immediate risks to the outlook stem from a sharp tightening of global
financial conditions.triggered, for instance, by greater volatility induced by US monetary policy
normali/ation or a spike in global risk aversion.which could lead to capital outflows, asset price
declines, and higher domestic interest rates. !his risk, it added, is more elevated in countries that depend
to a greater extent on external financing such as in India and Indoneseconomic growth should be
supported by the recovering US economy that will provide a market for Indian merchandise and service
exports. Private investment is expected to pick up thanks to the governments business orientation, and
declining oil prices should boost private sector competitiveness, it said. !he report also argued that
economic reforms will need to be fast tracked for India to achieve its full long"term growth potential.
!he #$%s positive outlook on the Indian economy is consistent with similar endorsements by other
international agencies.
&ating agency Standard and Poors 'S(P) last month raised the outlook on Indias sovereign rating to
stable from negative in a vote of confidence for the new governments handling of the economy,
removing the threat of a downgrade to *unk status.
+%ur outlook revision reflects our view that Indias improved political setting offers a conducive
environment for reforms, which could boost growth prospects and improve fiscal management, S(P said
at the time.
I,-, however, cautioned that the immediate risks to the outlook stem from a sharp tightening of global
financial conditions.triggered, for instance, by greater volatility induced by US monetary policy
normali/ation or a spike in global risk aversion.which could lead to capital outflows, asset price
declines, and higher domestic interest rates. !his risk, it added, is more elevated in countries that depend
to a greater extent on external financing such as in India and Indoneseconomic growth should be
supported by the recovering US economy that will provide a market for Indian merchandise and service
exports. Private investment is expected to pick up thanks to the governments business orientation, and
declining oil prices should boost private sector competitiveness, it said. !he report also argued that
economic reforms will need to be fast tracked for India to achieve its full long"term growth potential.
!he #$%s positive outlook on the Indian economy is consistent with similar endorsements by other
international agencies.
&ating agency Standard and Poors 'S(P) last month raised the outlook on Indias sovereign rating to
stable from negative in a vote of confidence for the new governments handling of the economy,
removing the threat of a downgrade to *unk status.
+%ur outlook revision reflects our view that Indias improved political setting offers a conducive
environment for reforms, which could boost growth prospects and improve fiscal management, S(P said
at the time.
I,-, however, cautioned that the immediate risks to the outlook stem from a sharp tightening of global
financial conditions.triggered, for instance, by greater volatility induced by US monetary policy
normali/ation or a spike in global risk aversion.which could lead to capital outflows, asset price
declines, and higher domestic interest rates. !his risk, it added, is more elevated in countries that depend
to a greater extent on external financing such as in India and Indoneseconomic growth should be
supported by the recovering US economy that will provide a market for Indian merchandise and service
exports. Private investment is expected to pick up thanks to the governments business orientation, and
declining oil prices should boost private sector competitiveness, it said. !he report also argued that
economic reforms will need to be fast tracked for India to achieve its full long"term growth potential.
!he #$%s positive outlook on the Indian economy is consistent with similar endorsements by other
international agencies.
&ating agency Standard and Poors 'S(P) last month raised the outlook on Indias sovereign rating to
stable from negative in a vote of confidence for the new governments handling of the economy,
removing the threat of a downgrade to *unk status.
+%ur outlook revision reflects our view that Indias improved political setting offers a conducive
environment for reforms, which could boost growth prospects and improve fiscal management, S(P said
at the time.
I,-, however, cautioned that the immediate risks to the outlook stem from a sharp tightening of global
financial conditions.triggered, for instance, by greater volatility induced by US monetary policy
normali/ation or a spike in global risk aversion.which could lead to capital outflows, asset price
declines, and higher domestic interest rates. !his risk, it added, is more elevated in countries that depend
to a greater extent on external financing such as in India and Indoneseconomic growth should be
supported by the recovering US economy that will provide a market for Indian merchandise and service
exports. Private investment is expected to pick up thanks to the governments business orientation, and
declining oil prices should boost private sector competitiveness, it said. !he report also argued that
economic reforms will need to be fast tracked for India to achieve its full long"term growth potential.
!he #$%s positive outlook on the Indian economy is consistent with similar endorsements by other
international agencies.
&ating agency Standard and Poors 'S(P) last month raised the outlook on Indias sovereign rating to
stable from negative in a vote of confidence for the new governments handling of the economy,
removing the threat of a downgrade to *unk status.
+%ur outlook revision reflects our view that Indias improved political setting offers a conducive
environment for reforms, which could boost growth prospects and improve fiscal management, S(P said
at the time.
I,-, however, cautioned that the immediate risks to the outlook stem from a sharp tightening of global
financial conditions.triggered, for instance, by greater volatility induced by US monetary policy
normali/ation or a spike in global risk aversion.which could lead to capital outflows, asset price
declines, and higher domestic interest rates. !his risk, it added, is more elevated in countries that depend
to a greater extent on external financing such as in India and Indoneseconomic growth should be
supported by the recovering US economy that will provide a market for Indian merchandise and service
exports. Private investment is expected to pick up thanks to the governments business orientation, and
declining oil prices should boost private sector competitiveness, it said. !he report also argued that
economic reforms will need to be fast tracked for India to achieve its full long"term growth potential.
!he #$%s positive outlook on the Indian economy is consistent with similar endorsements by other
international agencies.
&ating agency Standard and Poors 'S(P) last month raised the outlook on Indias sovereign rating to
stable from negative in a vote of confidence for the new governments handling of the economy,
removing the threat of a downgrade to *unk status.
+%ur outlook revision reflects our view that Indias improved political setting offers a conducive
environment for reforms, which could boost growth prospects and improve fiscal management, S(P said
at the time.
I,-, however, cautioned that the immediate risks to the outlook stem from a sharp tightening of global
financial conditions.triggered, for instance, by greater volatility induced by US monetary policy
normali/ation or a spike in global risk aversion.which could lead to capital outflows, asset price
declines, and higher domestic interest rates. !his risk, it added, is more elevated in countries that depend
to a greater extent on external financing such as in India and Indoneseconomic growth should be
supported by the recovering US economy that will provide a market for Indian merchandise and service
exports. Private investment is expected to pick up thanks to the governments business orientation, and
declining oil prices should boost private sector competitiveness, it said. !he report also argued that
economic reforms will need to be fast tracked for India to achieve its full long"term growth potential.
!he #$%s positive outlook on the Indian economy is consistent with similar endorsements by other
international agencies.
&ating agency Standard and Poors 'S(P) last month raised the outlook on Indias sovereign rating to
stable from negative in a vote of confidence for the new governments handling of the economy,
removing the threat of a downgrade to *unk status.
+%ur outlook revision reflects our view that Indias improved political setting offers a conducive
environment for reforms, which could boost growth prospects and improve fiscal management, S(P said
at the time.
I,-, however, cautioned that the immediate risks to the outlook stem from a sharp tightening of global
financial conditions.triggered, for instance, by greater volatility induced by US monetary policy
normali/ation or a spike in global risk aversion.which could lead to capital outflows, asset price
declines, and higher domestic interest rates. !his risk, it added, is more elevated in countries that depend
to a greater extent on external financing such as in India and Indoneseconomic growth should be
supported by the recovering US economy that will provide a market for Indian merchandise and service
exports. Private investment is expected to pick up thanks to the governments business orientation, and
declining oil prices should boost private sector competitiveness, it said. !he report also argued that
economic reforms will need to be fast tracked for India to achieve its full long"term growth potential.
!he #$%s positive outlook on the Indian economy is consistent with similar endorsements by other
international agencies.
&ating agency Standard and Poors 'S(P) last month raised the outlook on Indias sovereign rating to
stable from negative in a vote of confidence for the new governments handling of the economy,
removing the threat of a downgrade to *unk status.
+%ur outlook revision reflects our view that Indias improved political setting offers a conducive
environment for reforms, which could boost growth prospects and improve fiscal management, S(P said
at the time.
I,-, however, cautioned that the immediate risks to the outlook stem from a sharp tightening of global
financial conditions.triggered, for instance, by greater volatility induced by US monetary policy
normali/ation or a spike in global risk aversion.which could lead to capital outflows, asset price
declines, and higher domestic interest rates. !his risk, it added, is more elevated in countries that depend
to a greater extent on external financing such as in India and Indoneseconomic growth should be
supported by the recovering US economy that will provide a market for Indian merchandise and service
exports. Private investment is expected to pick up thanks to the governments business orientation, and
declining oil prices should boost private sector competitiveness, it said. !he report also argued that
economic reforms will need to be fast tracked for India to achieve its full long"term growth potential.
!he #$%s positive outlook on the Indian economy is consistent with similar endorsements by other
international agencies.
&ating agency Standard and Poors 'S(P) last month raised the outlook on Indias sovereign rating to
stable from negative in a vote of confidence for the new governments handling of the economy,
removing the threat of a downgrade to *unk status.
+%ur outlook revision reflects our view that Indias improved political setting offers a conducive
environment for reforms, which could boost growth prospects and improve fiscal management, S(P said
at the time.
I,-, however, cautioned that the immediate risks to the outlook stem from a sharp tightening of global
financial conditions.triggered, for instance, by greater volatility induced by US monetary policy
normali/ation or a spike in global risk aversion.which could lead to capital outflows, asset price
declines, and higher domestic interest rates. !his risk, it added, is more elevated in countries that depend
to a greater extent on external financing such as in India and Indoneseconomic growth should be
supported by the recovering US economy that will provide a market for Indian merchandise and service
exports. Private investment is expected to pick up thanks to the governments business orientation, and
declining oil prices should boost private sector competitiveness, it said. !he report also argued that
economic reforms will need to be fast tracked for India to achieve its full long"term growth potential.
!he #$%s positive outlook on the Indian economy is consistent with similar endorsements by other
international agencies.
&ating agency Standard and Poors 'S(P) last month raised the outlook on Indias sovereign rating to
stable from negative in a vote of confidence for the new governments handling of the economy,
removing the threat of a downgrade to *unk status.
+%ur outlook revision reflects our view that Indias improved political setting offers a conducive
environment for reforms, which could boost growth prospects and improve fiscal management, S(P said
at the time.
I,-, however, cautioned that the immediate risks to the outlook stem from a sharp tightening of global
financial conditions.triggered, for instance, by greater volatility induced by US monetary policy
normali/ation or a spike in global risk aversion.which could lead to capital outflows, asset price
declines, and higher domestic interest rates. !his risk, it added, is more elevated in countries that depend
to a greater extent on external financing such as in India and Indoneseconomic growth should be
supported by the recovering US economy that will provide a market for Indian merchandise and service
exports. Private investment is expected to pick up thanks to the governments business orientation, and
declining oil prices should boost private sector competitiveness, it said. !he report also argued that
economic reforms will need to be fast tracked for India to achieve its full long"term growth potential.
!he #$%s positive outlook on the Indian economy is consistent with similar endorsements by other
international agencies.
&ating agency Standard and Poors 'S(P) last month raised the outlook on Indias sovereign rating to
stable from negative in a vote of confidence for the new governments handling of the economy,
removing the threat of a downgrade to *unk status.
+%ur outlook revision reflects our view that Indias improved political setting offers a conducive
environment for reforms, which could boost growth prospects and improve fiscal management, S(P said
at the time.
I,-, however, cautioned that the immediate risks to the outlook stem from a sharp tightening of global
financial conditions.triggered, for instance, by greater volatility induced by US monetary policy
normali/ation or a spike in global risk aversion.which could lead to capital outflows, asset price
declines, and higher domestic interest rates. !his risk, it added, is more elevated in countries that depend
to a greater extent on external financing such as in India and Indoneseconomic growth should be
supported by the recovering US economy that will provide a market for Indian merchandise and service
exports. Private investment is expected to pick up thanks to the governments business orientation, and
declining oil prices should boost private sector competitiveness, it said. !he report also argued that
economic reforms will need to be fast tracked for India to achieve its full long"term growth potential.
!he #$%s positive outlook on the Indian economy is consistent with similar endorsements by other
international agencies.
&ating agency Standard and Poors 'S(P) last month raised the outlook on Indias sovereign rating to
stable from negative in a vote of confidence for the new governments handling of the economy,
removing the threat of a downgrade to *unk status.
+%ur outlook revision reflects our view that Indias improved political setting offers a conducive
environment for reforms, which could boost growth prospects and improve fiscal management, S(P said
at the time.
I,-, however, cautioned that the immediate risks to the outlook stem from a sharp tightening of global
financial conditions.triggered, for instance, by greater volatility induced by US monetary policy
normali/ation or a spike in global risk aversion.which could lead to capital outflows, asset price
declines, and higher domestic interest rates. !his risk, it added, is more elevated in countries that depend
to a greater extent on external financing such as in India and Indoneseconomic growth should be
supported by the recovering US economy that will provide a market for Indian merchandise and service
exports. Private investment is expected to pick up thanks to the governments business orientation, and
declining oil prices should boost private sector competitiveness, it said. !he report also argued that
economic reforms will need to be fast tracked for India to achieve its full long"term growth potential.
!he #$%s positive outlook on the Indian economy is consistent with similar endorsements by other
international agencies.
&ating agency Standard and Poors 'S(P) last month raised the outlook on Indias sovereign rating to
stable from negative in a vote of confidence for the new governments handling of the economy,
removing the threat of a downgrade to *unk status.
+%ur outlook revision reflects our view that Indias improved political setting offers a conducive
environment for reforms, which could boost growth prospects and improve fiscal management, S(P said
at the time.
I,-, however, cautioned that the immediate risks to the outlook stem from a sharp tightening of global
financial conditions.triggered, for instance, by greater volatility induced by US monetary policy
normali/ation or a spike in global risk aversion.which could lead to capital outflows, asset price
declines, and higher domestic interest rates. !his risk, it added, is more elevated in countries that depend
to a greater extent on external financing such as in India and Indoneseconomic growth should be
supported by the recovering US economy that will provide a market for Indian merchandise and service
exports. Private investment is expected to pick up thanks to the governments business orientation, and
declining oil prices should boost private sector competitiveness, it said. !he report also argued that
economic reforms will need to be fast tracked for India to achieve its full long"term growth potential.
!he #$%s positive outlook on the Indian economy is consistent with similar endorsements by other
international agencies.
&ating agency Standard and Poors 'S(P) last month raised the outlook on Indias sovereign rating to
stable from negative in a vote of confidence for the new governments handling of the economy,
removing the threat of a downgrade to *unk status.
+%ur outlook revision reflects our view that Indias improved political setting offers a conducive
environment for reforms, which could boost growth prospects and improve fiscal management, S(P said
at the time.
I,-, however, cautioned that the immediate risks to the outlook stem from a sharp tightening of global
financial conditions.triggered, for instance, by greater volatility induced by US monetary policy
normali/ation or a spike in global risk aversion.which could lead to capital outflows, asset price
declines, and higher domestic interest rates. !his risk, it added, is more elevated in countries that depend
to a greater extent on external financing such as in India and Indoneseconomic growth should be
supported by the recovering US economy that will provide a market for Indian merchandise and service
exports. Private investment is expected to pick up thanks to the governments business orientation, and
declining oil prices should boost private sector competitiveness, it said. !he report also argued that
economic reforms will need to be fast tracked for India to achieve its full long"term growth potential.
!he #$%s positive outlook on the Indian economy is consistent with similar endorsements by other
international agencies.
&ating agency Standard and Poors 'S(P) last month raised the outlook on Indias sovereign rating to
stable from negative in a vote of confidence for the new governments handling of the economy,
removing the threat of a downgrade to *unk status.
+%ur outlook revision reflects our view that Indias improved political setting offers a conducive
environment for reforms, which could boost growth prospects and improve fiscal management, S(P said
at the time.
I,-, however, cautioned that the immediate risks to the outlook stem from a sharp tightening of global
financial conditions.triggered, for instance, by greater volatility induced by US monetary policy
normali/ation or a spike in global risk aversion.which could lead to capital outflows, asset price
declines, and higher domestic interest rates. !his risk, it added, is more elevated in countries that depend
to a greater extent on external financing such as in India and Indoneseconomic growth should be
supported by the recovering US economy that will provide a market for Indian merchandise and service
exports. Private investment is expected to pick up thanks to the governments business orientation, and
declining oil prices should boost private sector competitiveness, it said. !he report also argued that
economic reforms will need to be fast tracked for India to achieve its full long"term growth potential.
!he #$%s positive outlook on the Indian economy is consistent with similar endorsements by other
international agencies.
&ating agency Standard and Poors 'S(P) last month raised the outlook on Indias sovereign rating to
stable from negative in a vote of confidence for the new governments handling of the economy,
removing the threat of a downgrade to *unk status.
+%ur outlook revision reflects our view that Indias improved political setting offers a conducive
environment for reforms, which could boost growth prospects and improve fiscal management, S(P said
at the time.
I,-, however, cautioned that the immediate risks to the outlook stem from a sharp tightening of global
financial conditions.triggered, for instance, by greater volatility induced by US monetary policy
normali/ation or a spike in global risk aversion.which could lead to capital outflows, asset price
declines, and higher domestic interest rates. !his risk, it added, is more elevated in countries that depend
to a greater extent on external financing such as in India and Indoneseconomic growth should be
supported by the recovering US economy that will provide a market for Indian merchandise and service
exports. Private investment is expected to pick up thanks to the governments business orientation, and
declining oil prices should boost private sector competitiveness, it said. !he report also argued that
economic reforms will need to be fast tracked for India to achieve its full long"term growth potential.
!he #$%s positive outlook on the Indian economy is consistent with similar endorsements by other
international agencies.
&ating agency Standard and Poors 'S(P) last month raised the outlook on Indias sovereign rating to
stable from negative in a vote of confidence for the new governments handling of the economy,
removing the threat of a downgrade to *unk status.
+%ur outlook revision reflects our view that Indias improved political setting offers a conducive
environment for reforms, which could boost growth prospects and improve fiscal management, S(P said
at the time.
I,-, however, cautioned that the immediate risks to the outlook stem from a sharp tightening of global
financial conditions.triggered, for instance, by greater volatility induced by US monetary policy
normali/ation or a spike in global risk aversion.which could lead to capital outflows, asset price
declines, and higher domestic interest rates. !his risk, it added, is more elevated in countries that depend
to a greater extent on external financing such as in India and Indoneseconomic growth should be
supported by the recovering US economy that will provide a market for Indian merchandise and service
exports. Private investment is expected to pick up thanks to the governments business orientation, and
declining oil prices should boost private sector competitiveness, it said. !he report also argued that
economic reforms will need to be fast tracked for India to achieve its full long"term growth potential.
!he #$%s positive outlook on the Indian economy is consistent with similar endorsements by other
international agencies.
&ating agency Standard and Poors 'S(P) last month raised the outlook on Indias sovereign rating to
stable from negative in a vote of confidence for the new governments handling of the economy,
removing the threat of a downgrade to *unk status.
+%ur outlook revision reflects our view that Indias improved political setting offers a conducive
environment for reforms, which could boost growth prospects and improve fiscal management, S(P said
at the time.
I,-, however, cautioned that the immediate risks to the outlook stem from a sharp tightening of global
financial conditions.triggered, for instance, by greater volatility induced by US monetary policy
normali/ation or a spike in global risk aversion.which could lead to capital outflows, asset price
declines, and higher domestic interest rates. !his risk, it added, is more eleeconomic growth should be
supported by the recovering US economy that will provide a market for Indian merchandise and service
exports. Private investment is expected to pick up thanks to the governments business orientation, and
declining oil prices should boost private sector competitiveness, it said. !he report also argued that
economic reforms will need to be fast tracked for India to achieve its full long"term growth potential.
!he #$%s positive outlook on the Indian economy is consistent with similar endorsements by other
international agencies.
&ating agency Standard and Poors 'S(P) last month raised the outlook on Indias sovereign rating to
stable from negative in a vote of confidence for the new governments handling of the economy,
removing the threat of a downgrade to *unk status.
+%ur outlook revision reflects our view that Indias improved political setting offers a conducive
environment for reforms, which could boost growth prospects and improve fiscal management, S(P said
at the time.
I,-, however, cautioned that the immediate risks to the outlook stem from a sharp tightening of global
financial conditions.triggered, for instance, by greater volatility induced by US monetary policy
normali/ation or a spike in global risk aversion.which could lead to capital outflows, asset price
declines, and higher domestic interest rates. !his risk, it added, is more elevated in countries that depend
to a greater extent on external financing such as in India and Indoneseconomic growth should be
supported by the recovering US economy that will provide a market for Indian merchandise and service
exports. Private investment is expected to pick up thanks to the governments business orientation, and
declining oil prices should boost private sector competitiveness, it said. !he report also argued that
economic reforms will need to be fast tracked for India to achieve its full long"term growth potential.
!he #$%s positive outlook on the Indian economy is consistent with similar endorsements by other
international agencies.
&ating agency Standard and Poors 'S(P) last month raised the outlook on Indias sovereign rating to
stable from negative in a vote of confidence for the new governments handling of the economy,
removing the threat of a downgrade to *unk status.
+%ur outlook revision reflects our view that Indias improved political setting offers a conducive
environment for reforms, which could boost growth prospects and improve fiscal management, S(P said
at the time.
I,-, however, cautioned that the immediate risks to the outlook stem from a sharp tightening of global
financial conditions.triggered, for instance, by greater volatility induced by US monetary policy
normali/ation or a spike in global risk aversion.which could lead to capital outflows, asset price
declines, and higher domestic interest rates. !his risk, it added, is more elevated in countries that depend
to a greater extent on external financing such as in India and Indoneseconomic growth should be
supported by the recovering US economy that will provide a market for Indian merchandise and service
exports. Private investment is expected to pick up thanks to the governments business orientation, and
declining oil prices should boost private sector competitiveness, it said. !he report also argued that
economic reforms will need to be fast tracked for India to achieve its full long"term growth potential.
!he #$%s positive outlook on the Indian economy is consistent with similar endorsements by other
international agencies.
&ating agency Standard and Poors 'S(P) last month raised the outlook on Indias sovereign rating to
stable from negative in a vote of confidence for the new governments handling of the economy,
removing the threat of a downgrade to *unk status.
+%ur outlook revision reflects our view that Indias improved political setting offers a conducive
environment for reforms, which could boost growth prospects and improve fiscal management, S(P said
at the time.
I,-, however, cautioned that the immediate risks to the outlook stem from a sharp tightening of global
financial conditions.triggered, for instance, by greater volatility induced by US monetary policy
normali/ation or a spike in global risk aversion.which could lead to capital outflows, asset price
declines, and higher domestic interest rates. !his risk, it added, is more elevated in countries that depend
to a greater extent on external financing such as in India and Indoneseconomic growth should be
supported by the recovering US economy that will provide a market for Indian merchandise and service
exports. Private investment is expected to pick up thanks to the governments business orientation, and
declining oil prices should boost private sector competitiveness, it said. !he report also argued that
economic reforms will need to be fast tracked for India to achieve its full long"term growth potential.
!he #$%s positive outlook on the Indian economy is consistent with similar endorsements by other
international agencies.
&ating agency Standard and Poors 'S(P) last month raised the outlook on Indias sovereign rating to
stable from negative in a vote of confidence for the new governments handling of the economy,
removing the threat of a downgrade to *unk status.
+%ur outlook revision reflects our view that Indias improved political setting offers a conducive
environment for reforms, which could boost growth prospects and improve fiscal management, S(P said
at the time.
I,-, however, cautioned that the immediate risks to the outlook stem from a sharp tightening of global
financial conditions.triggered, for instance, by greater volatility induced by US monetary policy
normali/ation or a spike in global risk aversion.which could lead to capital outflows, asset price
declines, and higher domestic interest rates. !his risk, it added, is moeconomic growth should be
supported by the recovering US economy that will provide a market for Indian merchandise and service
exports. Private investment is expected to pick up thanks to the governments business orientation, and
declining oil prices should boost private sector competitiveness, it said. !he report also argued that
economic reforms will need to be fast tracked for India to achieve its full long"term growth potential.
!he #$%s positive outlook on the Indian economy is consistent with similar endorsements by other
international agencies.
&ating agency Standard and Poors 'S(P) last month raised the outlook on Indias sovereign rating to
stable from negative in a vote of confidence for the new governments handling of the economy,
removing the threat of a downgrade to *unk status.
+%ur outlook revision reflects our view that Indias improved political setting offers a conducive
environment for reforms, which could boost growth prospects and improve fiscal management, S(P said
at the time.
I,-, however, cautioned that the immediate risks to the outlook stem from a sharp tightening of global
financial conditions.triggered, for instance, by greater volatility induced by US monetary policy
normali/ation or a spike in global risk aversion.which could lead to capital outflows, asset price
declines, and higher domestic interest rates. !his risk, it added, is more elevated in countries that depend
to a greater extent on external financing such as in India and Indoneseconomic growth should be
supported by the recovering US economy that will provide a market for Indian merchandise and service
exports. Private investment is expected to pick up thanks to the governments business orientation, and
declining oil prices should boost private sector competitiveness, it said. !he report also argued that
economic reforms will need to be fast tracked for India to achieve its full long"term growth potential.
!he #$%s positive outlook on the Indian economy is consistent with similar endorsements by other
international agencies.
&ating agency Standard and Poors 'S(P) last month raised the outlook on Indias sovereign rating to
stable from negative in a vote of confidence for the new governments handling of the economy,
removing the threat of a downgrade to *unk status.
+%ur outlook revision reflects our view that Indias improved political setting offers a conducive
environment for reforms, which could boost growth prospects and improve fiscal management, S(P said
at the time.
I,-, however, cautioned that the immediate risks to the outlook stem from a sharp tightening of global
financial conditions.triggered, for instance, by greater volatility induced by US monetary policy
normali/ation or a spike in global risk aversion.which could lead to capital outflows, asset price
declines, and higher domestic interest rates. !his risk, it added, is more elevated in countries that depend
to a greater extent on external financing such as in India and Indoneseconomic growth should be
supported by the recovering US economy that will provide a market for Indian merchandise and service
exports. Private investment is expected to pick up thanks to the governments business orientation, and
declining oil prices should boost private sector competitiveness, it said. !he report also argued that
economic reforms will need to be fast tracked for India to achieve its full long"term growth potential.
!he #$%s positive outlook on the Indian economy is consistent with similar endorsements by other
international agencies.
&ating agency Standard and Poors 'S(P) last month raised the outlook on Indias sovereign rating to
stable from negative in a vote of confidence for the new governments handling of the economy,
removing the threat of a downgrade to *unk status.
+%ur outlook revision reflects our view that Indias improved political setting offers a conducive
environment for reforms, which could boost growth prospects and improve fiscal management, S(P said
at the time.
I,-, however, cautioned that the immediate risks to the outlook stem from a sharp tightening of global
financial conditions.triggered, for instance, by greater volatility induced by US monetary policy
normali/ation or a spike in global risk aversion.which could lead to capital outflows, asset price
declines, and higher domestic interest rates. !his risk, it added, is more elevated in countries that depend
to a greater extent on external financing such as in India and Indoneseconomic growth should be
supported by the recovering US economy that will provide a market for Indian merchandise and service
exports. Private investment is expected to pick up thanks to the governments business orientation, and
declining oil prices should boost private sector competitiveness, it said. !he report also argued that
economic reforms will need to be fast tracked for India to achieve its full long"term growth potential.
!he #$%s positive outlook on the Indian economy is consistent with similar endorsements by other
international agencies.
&ating agency Standard and Poors 'S(P) last month raised the outlook on Indias sovereign rating to
stable from negative in a vote of confidence for the new governments handling of the economy,
removing the threat of a downgrade to *unk status.
+%ur outlook revision reflects our view that Indias improved political setting offers a conducive
environment for reforms, which could boost growth prospects and improve fiscal management, S(P said
at the time.
I,-, however, cautioned that the immediate risks to the outlook stem from a sharp tightening of global
financial conditions.triggered, for instance, by greater volatility induced by US monetary policy
normali/ation or a spike in global risk aversion.which could lead to capital outflows, asset price
declines, and higher domestic interest rates. !his risk, it added, is more elevated in countries that depend
to a greater extent on external financing such as in India and Indoneseconomic growth should be
supported by the recovering US economy that will provide a market for Indian merchandise and service
exports. Private investment is expected to pick up thanks to the governments business orientation, and
declining oil prices should boost private sector competitiveness, it said. !he report also argued that
economic reforms will need to be fast tracked for India to achieve its full long"term growth potential.
!he #$%s positive outlook on the Indian economy is consistent with similar endorsements by other
international agencies.
&ating agency Standard and Poors 'S(P) last month raised the outlook on Indias sovereign rating to
stable from negative in a vote of confidence for the new governments handling of the economy,
removing the threat of a downgrade to *unk status.
+%ur outlook revision reflects our view that Indias improved political setting offers a conducive
environment for reforms, which could boost growth prospects and improve fiscal management, S(P said
at the time.
I,-, however, cautioned that the immediate risks to the outlook stem from a sharp tightening of global
financial conditions.triggered, for instance, by greater volatility induced by US monetary policy
normali/ation or a spike in global risk aversion.which could lead to capital outflows, asset price
declines, and higher domestic interest rates. !his risk, it added, is more elevated in countries that depend
to a greater extent on external financing such as in India and Indoneseconomic growth should be
supported by the recovering US economy that will provide a market for Indian merchandise and service
exports. Private investment is expected to pick up thanks to the governments business orientation, and
declining oil prices should boost private sector competitiveness, it said. !he report also argued that
economic reforms will need to be fast tracked for India to achieve its full long"term growth potential.
!he #$%s positive outlook on the Indian economy is consistent with similar endorsements by other
international agencies.
&ating agency Standard and Poors 'S(P) last month raised the outlook on Indias sovereign rating to
stable from negative in a vote of confidence for the new governments handling of the economy,
removing the threat of a downgrade to *unk status.
+%ur outlook revision reflects our view that Indias improved political setting offers a conducive
environment for reforms, which could boost growth prospects and improve fiscal management, S(P said
at the time.
I,-, however, cautioned that the immediate risks to the outlook stem from a sharp tightening of global
financial conditions.triggered, for instance, by greater volatility induced by US monetary policy
normali/ation or a spike in global risk aversion.which could lead to capital outflows, asset price
declines, and higher domestic interest rates. !his risk, it added, is more elevated in countries that depend
to a greater extent on external financing such as in India and Indoneseconomic growth should be
supported by the recovering US economy that will provide a market for Indian merchandise and service
exports. Private investment is expected to pick up thanks to the governments business orientation, and
declining oil prices should boost private sector competitiveness, it said. !he report also argued that
economic reforms will need to be fast tracked for India to achieve its full long"term growth potential.
!he #$%s positive outlook on the Indian economy is consistent with similar endorsements by other
international agencies.
&ating agency Standard and Poors 'S(P) last month raised the outlook on Indias sovereign rating to
stable from negative in a vote of confidence for the new governments handling of the economy,
removing the threat of a downgrade to *unk status.
+%ur outlook revision reflects our view that Indias improved political setting offers a conducive
environment for reforms, which could boost growth prospects and improve fiscal management, S(P said
at the time.
I,-, however, cautioned that the immediate risks to the outlook stem from a sharp tightening of global
financial conditions.triggered, for instance, by greater volatility induced by US monetary policy
normali/ation or a spike in global risk aversion.which could lead to capital outflows, asset price
declines, and higher domestic interest rates. !his risk, it added, is more elevated in countries that depend
to a greater extent on external financing such as in India and Indoneseconomic growth should be
supported by the recovering US economy that will provide a market for Indian merchandise and service
exports. Private investment is expected to pick up thanks to the governments business orientation, and
declining oil prices should boost private sector competitiveness, it said. !he report also argued that
economic reforms will need to be fast tracked for India to achieve its full long"term growth potential.
!he #$%s positive outlook on the Indian economy is consistent with similar endorsements by other
international agencies.
&ating agency Standard and Poors 'S(P) last month raised the outlook on Indias sovereign rating to
stable from negative in a vote of confidence for the new governments handling of the economy,
removing the threat of a downgrade to *unk status.
+%ur outlook revision reflects our view that Indias improved political setting offers a conducive
environment for reforms, which could boost growth prospects and improve fiscal management, S(P said
at the time.
I,-, however, cautioned that the immediate risks to the outlook stem from a sharp tightening of global
financial conditions.triggered, for instance, by greater volatility induced by US monetary policy
normali/ation or a spike in global risk aversion.which could lead to capital outflows, asset price
declines, and higher domestic interest rates. !his risk, it added, is more elevated in countries that depend
to a greater extent on external financing such as in India and Indoneseconomic growth should be
supported by the recovering US economy that will provide a market for Indian merchandise and service
exports. Private investment is expected to pick up thanks to the governments business orientation, and
declining oil prices should boost private sector competitiveness, it said. !he report also argued that
economic reforms will need to be fast tracked for India to achieve its full long"term growth potential.
!he #$%s positive outlook on the Indian economy is consistent with similar endorsements by other
international agencies.
&ating agency Standard and Poors 'S(P) last month raised the outlook on Indias sovereign rating to
stable from negative in a vote of confidence for the new governments handling of the economy,
removing the threat of a downgrade to *unk status.
+%ur outlook revision reflects our view that Indias improved political setting offers a conducive
environment for reforms, which could boost growth prospects and improve fiscal management, S(P said
at the time.
I,-, however, cautioned that the immediate risks to the outlook stem from a sharp tightening of global
financial conditions.triggered, for instance, by greater volatility induced by US monetary policy
normali/ation or a spike in global risk aversion.which could lead to capital outflows, asset price
declines, and higher domestic interest rates. !his risk, it added, is more elevated in countries that depend
to a greater extent on external financing such as in India and Indoneseconomic growth should be
supported by the recovering US economy that will provide a market for Indian merchandise and service
exports. Private investment is expected to pick up thanks to the governments business orientation, and
declining oil prices should boost private sector competitiveness, it said. !he report also argued that
economic reforms will need to be fast tracked for India to achieve its full long"term growth potential.
!he #$%s positive outlook on the Indian economy is consistent with similar endorsements by other
international agencies.
&ating agency Standard and Poors 'S(P) last month raised the outlook on Indias sovereign rating to
stable from negative in a vote of confidence for the new governments handling of the economy,
removing the threat of a downgrade to *unk status.
+%ur outlook revision reflects our view that Indias improved political setting offers a conducive
environment for reforms, which could boost growth prospects and improve fiscal management, S(P said
at the time.
I,-, however, cautioned that the immediate risks to the outlook stem from a sharp tightening of global
financial conditions.triggered, for instance, by greater volatility induced by US monetary policy
normali/ation or a spike in global risk aversion.which could lead to capital outflows, asset price
declines, and higher domestic interest rates. !his risk, it added, is more elevated in countries that depend
to a greater extent on external financing such as in India and Indoneseconomic growth should be
supported by the recovering US economy that will provide a market for Indian merchandise and service
exports. Private investment is expected to pick up thanks to the governments business orientation, and
declining oil prices should boost private sector competitiveness, it said. !he report also argued that
economic reforms will need to be fast tracked for India to achieve its full long"term growth potential.
!he #$%s positive outlook on the Indian economy is consistent with similar endorsements by other
international agencies.
&ating agency Standard and Poors 'S(P) last month raised the outlook on Indias sovereign rating to
stable from negative in a vote of confidence for the new governments handling of the economy,
removing the threat of a downgrade to *unk status.
+%ur outlook revision reflects our view that Indias improved political setting offers a conducive
environment for reforms, which could boost growth prospects and improve fiscal management, S(P said
at the time.
I,-, however, cautioned that the immediate risks to the outlook stem from a sharp tightening of global
financial conditions.triggered, for instance, by greater volatility induced by US monetary policy
normali/ation or a spike in global risk aversion.which could lead to capital outflows, asset price
declines, and higher domestic interest rates. !his risk, it added, is more elevated in countries that depend
to a greater extent on external financing such as in India and Indoneseconomic growth should be
supported by the recovering US economy that will provide a market for Indian merchandise and service
exports. Private investment is expected to pick up thanks to the governments business orientation, and
declining oil prices should boost private sector competitiveness, it said. !he report also argued that
economic reforms will need to be fast tracked for India to achieve its full long"term growth potential.
!he #$%s positive outlook on the Indian economy is consistent with similar endorsements by other
international agencies.
&ating agency Standard and Poors 'S(P) last month raised the outlook on Indias sovereign rating to
stable from negative in a vote of confidence for the new governments handling of the economy,
removing the threat of a downgrade to *unk status.
+%ur outlook revision reflects our view that Indias improved political setting offers a conducive
environment for reforms, which could boost growth prospects and improve fiscal management, S(P said
at the time.
I,-, however, cautioned that the immediate risks to the outlook stem from a sharp tightening of global
financial conditions.triggered, for instance, by greater volatility induced by US monetary policy
normali/ation or a spike in global risk aversion.which could lead to capital outflows, asset price
declines, and higher domestic interest rates. !his risk, it added, is more elevated in countries that depend
to a greater extent on external financing such as in India and Indoneseconomic growth should be
supported by the recovering US economy that will provide a market for Indian merchandise and service
exports. Private investment is expected to pick up thanks to the governments business orientation, and
declining oil prices should boost private sector competitiveness, it said. !he report also argued that
economic reforms will need to be fast tracked for India to achieve its full long"term growth potential.
!he #$%s positive outlook on the Indian economy is consistent with similar endorsements by other
international agencies.
&ating agency Standard and Poors 'S(P) last month raised the outlook on Indias sovereign rating to
stable from negative in a vote of confidence for the new governments handling of the economy,
removing the threat of a downgrade to *unk status.
+%ur outlook revision reflects our view that Indias improved political setting offers a conducive
environment for reforms, which could boost growth prospects and improve fiscal management, S(P said
at the time.
I,-, however, cautioned that the immediate risks to the outlook stem from a sharp tightening of global
financial conditions.triggered, for instance, by greater volatility induced by US monetary policy
normali/ation or a spike in global risk aversion.which could lead to capital outflows, asset price
declines, and higher domestic interest rates. !his risk, it added, is more elevated in countries that depend
to a greater extent on external financing such as in India and Indoneseconomic growth should be
supported by the recovering US economy that will provide a market for Indian merchandise and service
exports. Private investment is expected to pick up thanks to the governments business orientation, and
declining oil prices should boost private sector competitiveness, it said. !he report also argued that
economic reforms will need to be fast tracked for India to achieve its full long"term growth potential.
!he #$%s positive outlook on the Indian economy is consistent with similar endorsements by other
international agencies.
&ating agency Standard and Poors 'S(P) last month raised the outlook on Indias sovereign rating to
stable from negative in a vote of confidence for the new governments handling of the economy,
removing the threat of a downgrade to *unk status.
+%ur outlook revision reflects our view that Indias improved political setting offers a conducive
environment for reforms, which could boost growth prospects and improve fiscal management, S(P said
at the time.
I,-, however, cautioned that the immediate risks to the outlook stem from a sharp tightening of global
financial conditions.triggered, for instance, by greater volatility induced by US monetary policy
normali/ation or a spike in global risk aversion.which could lead to capital outflows, asset price
declines, and higher domestic interest rates. !his risk, it added, is more elevated in countries that depend
to a greater extent on external financing such as in India and Indoneseconomic growth should be
supported by the recovering US economy that will provide a market for Indian merchandise and service
exports. Private investment is expected to pick up thanks to the governments business orientation, and
declining oil prices should boost private sector competitiveness, it said. !he report also argued that
economic reforms will need to be fast tracked for India to achieve its full long"term growth potential.
!he #$%s positive outlook on the Indian economy is consistent with similar endorsements by other
international agencies.
&ating agency Standard and Poors 'S(P) last month raised the outlook on Indias sovereign rating to
stable from negative in a vote of confidence for the new governments handling of the economy,
removing the threat of a downgrade to *unk status.
+%ur outlook revision reflects our view that Indias improved political setting offers a conducive
environment for reforms, which could boost growth prospects and improve fiscal management, S(P said
at the time.
I,-, however, cautioned that the immediate risks to the outlook stem from a sharp tightening of global
financial conditions.triggered, for instance, by greater volatility induced by US monetary policy
normali/ation or a spike in global risk aversion.which could lead to capital outflows, asset price
declines, and higher domestic interest rates. !his risk, it added, is more elevated in countries that depend
to a greater extent on external financing such as in India and Indonesre elevated in countries that depend
to a greater extent on external financing such as in India and Indonesvated in countries that depend to a
greater extent on external financing such as in India and Indones