Moody’s Upgrades India’s Ratings

A vote of confidence for Modi’s reform agenda

https://www.bloomberg.com/news/articles/2017-11-17/india-s-credit-rating-upgraded-by-moody-s-in-boost-for-modi

“Modi has pushed through sweeping reforms, with mixed results. Moody’s acknowledged that the cash ban and goods and services tax have undermined growth in the near term. In the longer term, however, the GST will promote productivity by removing barriers to interstate trade, Moody’s said, also citing Modi’s improvements to the monetary policy framework, measures to clean up bad loans, and efforts to bring more areas into the formal economy.”

RELATED:

Will infrastructure spending and cleanup of bad loans from bank balance sheets help?

http://www.livemint.com/Opinion/Y3WV6X7ztlxKWCcKseF6kM/Will-roads-and-banks-stimulus-revive-the-economy.html

Fixing the flawed national sales tax system:

http://www.livemint.com/Politics/c7dNTSkH1NgDlqSAfeZw7K/GST-Council-meeting-to-announce-relief-for-firms-consumers.html

GST Background info:

https://www.bloombergquint.com/opinion/2017/11/09/gst-will-deliver-growth-but-immediate-challenges-need-to-be-addressed