The 2017 budget is “fiscally prudent,” as it maintains the government’s fiscal consolidation efforts and would lead to stable economic growth if implemented correctly, a Moody’s analyst said on Wednesday. However, the ratings agency would still need to see more evidence of the effectiveness of reforms to justify a change in its ratings stance, said Marie Diron, associate managing director of the sovereign rating group at Moody’s Investors Service. On Wednesday, finance minister Arun Jaitley presented a budget for the fiscal year beginning April 1 that increased spending on rural areas, infrastructure and fighting poverty, but keeping fiscal deficits in check. Read more“It is a fiscally prudent budget,” Diron said in a phone interview. For more on the 2017 budget, click here

Source: Hindustan Times February 01, 2017 09:27 UTC