India's Economic Outlook News

The Finance Ministry issued a statement in which it said, ''India continues to be among the fastest-growing major economies in the world and its relative standing remains unaffected. ''

The US-based agency upped India's rating to Baa2 from Baa3, changing outlook to 'stable' from 'positive', seen as a boost to the Modi government's reform agenda.

Industry bodies CII, FICCI and Assocham also hailed steps taken by the government to resolve the "twin balance sheet" problem.

Indian business leaders continue to be the most optimistic lot globally about the country;s economic outlook for the second consecutive quarter owing to a strong GDP growth, recent policy announcements and regulatory changes, says a report.  

Executives' outlook for the economy has turned cautious and respondents are now more likely to express negative views on both global and domestic economic conditions, says a McKinsey report.

India is projected to grow at a slightly lower pace than expected earlier at 7.2 percent this fiscal but the country is an "exception" to the worsening picture in major emerging economies, says OECD.

Revising India's GDP upwards by 0.3 percent to 6.3 percent in 2015, Asian Development Bank (ADB) has said the economy shows a new promise of turnaround after the election brought a stable government in May.

Global brokerage Bank of America Merrill Lynch on Thursday said "worst is over" for India and rating agencies are likely to upgrade their outlook for the country sooner rather than later.