Moody's will be pressured by the government to upgrade the country's rating
A meeting between the finance ministry and the rating agency will be held on September 4 New Delhi: The Indian government may suggest rating agency Moody's to upgrade the country's rating based on the economic recovery scenario. Sources familiar with the developments said that the finance ministry will hold a meeting with Moody's Investors Service on September 7, in the meantime, which may force India to upgrade its rating. During the meeting, the finance ministry will also explain to the rating agency how India will achieve its budget targets for the current financial year. Moody's downgraded India's sovereign rating to 'Baa2' in June last year with a negative outlook. The global ratings agency, citing slow growth in the long run amid the Covid-12 epidemic, said the outbreak had further weakened India's credit profile, which was already in recession. At that time, it had downgraded six other countries as well as given the lowest investment grade. L...