Rating agency Moody’s Investors Service has upgraded India’s sovereign rating outlook to ‘stable’ from ‘negative’ , on October 05, 2021, following an improvement in the financial sector and faster-than-expected economic recovery across sectors. However, Moody’s had retained India’s sovereign rating at Baa3. “Following a deep contraction of 7.3% in fiscal 2020 (ending March 2021), Moody’s expects India’s real GDP to surpass 2019 levels this fiscal year, rebounding to a growth rate of 9.3%, followed by 7.9% in fiscal 2022,” it said on the growth outlook.
