New
Delhi: Moody's has said the country's economy is proving
to be stronger than other countries, which have the similar
Baa3 foreign currency rating.
"The
country's external financial position is consistent with
or even stronger than its Baa3 peers," Moody's has
said in its annual report on India.
Moody's
has said the country's Baa3 foreign currency ceiling for
debt and stable outlook reflect strong external liquidity
and a vibrant growth outlook.
Te
rating agency has projected the economy to grow at an
average annual rate of 6.5 per cent in the coming years.
It has said though this would mean a slight slowing down
from the growth in the current fiscal, it would nevertheless
be a "respectable" rate.
"Even
at just 6.5 per cent, India is likely to attract much
more capital going forward than has been the case historically,"
Moody's has said.
It
has said the growth trend would be difficult to maintain
"in the absence
of increased investment in human and physical infrastructure
and a fiscal adjustment that would leave more room for
private investment to expand."
|