Credit rating agency Moody's Investors Service on Friday assigned senior implied issuer ratings of Ba1 to India's Tata Power and Indian Oil Corp -- one notch above the sovereign rating it assigns to India.\n\n\n\n
The young Tilak Varma was included in the Indian team for the Asia Cup as the sixth specialist batter.
'We forecast real GDP growth to moderate to 6.7 per cent in the year ending March 2018.' 'However, as disruption fades, we expect to see a rebound in real GDP growth to 7.5 per cent in the next fiscal year.'
Oil and Natural Gas Corporation, India's largest oil producer, may go in for foreign debt to fund its overseas acquisitions and it has asked Moody's to do a credit rating.
The trade deficit has widened by 61 per cent to touch $25,619.85 million in the first four months of the current fiscal, against $15,841.22 million a year ago, according to official figures.
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Moody's became the first rating agency to retain the sovereign rating of Baa3 for the country after the rupee dived below 63 to the dollar, on Monday.
Moody's said it expects exposure to low oil prices to shave off 0.8 per cent from real GDP growth on average across oil exporting countries in 2016.
This is lower than the country's growth rate of 6.7 per cent for the financial year 2008-09.
Operating sales in Mumbai and London were weaker by 20 per cent and 50 per cent, respectively.
Monsoon is likely to be below normal in the current year at 93%.
Moody is expected to agree a two-year contract to lead the team to the 2007 World Cup.
Britain's foreign secretary said Prime Minister David Cameron would take note of the assessment in the context of Modi's plans for the development of the Indian economy.
India will find it tough to meet its fiscal deficit target for the new year starting in April, given its plans to cut taxes and step up spending on infrastructure, Moody's Investors Service said.
Moody's expects the new government to increase the retail selling prices of controlled fuel products -- kerosene and liquefied petroleum gas -- to help control its subsidy burden.
Central banks in India, China and South Korea are closely monitoring the emerging inflationary pressures on their economies and hikes in interest rates could be expected across the Asia-Pacific region after Australia raised key interest rates.
The imports may recover faster, thnaks to a strong demand. "As global prospects are now improving, especially with the US economic contraction easing, India's exports may begin to recover later in the year," Moody's said in a statement.
India may have to lean more on West Asian nations for supplies of liquefied petroleum gas (LPG), a cooking fuel, in the coming years after Indian state-run refiners drew up big plans to diversify into producing more profitable petrochemicals. This shift leads to reduced LPG output, Indian refining executives said. The mantra for state-run oil companies, from Indian Oil Corporation (IndianOil) to liquefied natural gas (LNG) importer Petronet LNG, which are looking to diversify their businesses from lower-margin fuels, has been value-added petrochemicals.
"It's a welcome development, but we also feel it was long overdue... It's a recognition of the actions that the government has undertaken like GST, bankruptcy. We also need to keep all these things in perspective," Chief Economic Adviser Arvind Subramanian said.
Moody's Investors Service on Friday said India's economy is expected to contract for the first time in more than four decades saying economic damage owing to the coronavirus-induced lockdown will be significant with lower consumption and sluggish business activity. Even before the coronavirus outbreak, Indian economy already was growing at its slowest pace in six years and with the stimulus measures announced by the government falling short of expectations, the disruptions are likely to be greater. "We now expect India's growth to register a real GDP contraction for the fiscal year ending in March 2021 (fiscal 2020-21), from our earlier projection of zero growth," it said in a research note.
After declining for 10 consecutive weeks, Inflation, based on wholesale prices, rose by 0.36 percentage points for the week-ended January 10, from 5.24 per cent for January 3.
Rangarajan said that growth has many dimensions to it.
The Indian economy grew by 4.7 per cent in the April-June quarter last year and the growth rate was also 4.7 per cent for full 2013-14.
The agency noted that the reviews of these banks' sub-debt ratings were not indication of any change in the affected banks' fundamental credit quality.
High fiscal deficit and debt ratios remain one of the biggest constraints.
Former Australia cricketer Tom Moody feels India should have given a chance to in-form batsman Shubman Gill ahead of Prithvi Shaw in the opening day-night Test against Australia in Adelaide.
The Indian Premier League's Hyderabad franchise, now called 'Sunrisers', have appointed former Australia cricketer Tom Moody as the team's new coach, and former India cricketers Krishnamachari Srikkanth and VVS Laxman mentors.
The Indian Premier League's Hyderabad franchise, now called 'Sunrisers', have appointed former Australia cricketer Tom Moody as the team's new coach, and former India cricketers Krishnamachari Srikkanth and VVS Laxman mentors.
The RBI has lowered interest rates by 1.25 per cent since January.
'The assessment of most people is that there is a stable economic and political environment in India and that is attractive to investors.'
Moody's, on Thursday, reaffirmed its positive rating outlook for the Chinese economy on the back of favourable medium-term growth prospects.
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Externally, the global economy is stabilising, with better growth is expected this year.
"Fitch Ratings has placed Punjab National Bank's (PNB) Viability Rating of 'bb' on Rating Watch Negative (RWN), following the large fraud reported by PNB," the US-based agency said in a statement.
'But their bowling is poor. Beyond Jasprit Bumrah, there is no one to actually support them in that bowling attack, and the CSK batters took them apart.'
