India's rating outlook News

Questioning the methodology adopted by Moody's, Finance Ministry on Thursday said the global agency has ignored reforms initiated by the government and it should not wait "till infinity" for them to take root before upgrading the country's sovereign rating.

Global rating agency Moody's Investors Service today said it could consider India for a rating upgrade if the government is successful in introducing more growth enhancing economic and institutional reforms.

Meanwhile, Moody`s, which revised India`s "Baa3" sovereign rating outlook to "positive" from "stable" last month, said its outlook reflects a 2-5 year horizon, rather than near-term growth outlook.

Bolstered by Moody's upgrading India's rating outlook to 'positive' from 'stable' Thursday, the benchmark BSE Sensex surged over 177 points to close at near four-week high of 28,885.21 as lenders led the rally, however, rupee ended flat against the dollar.