New Delhi, Dec. 11 (PTI): Withdrawal of support to the government by an “'obstinate coalition partner” and flurry of reforms have improved India’s growth prospects in 2013, global rating agency Moody’s said today.
“...(growth prospects have improved) with a new finance minister, the withdrawal of an obstinate coalition partner and a flurry of pro-business reforms designed to lift the economy from its funk. These moves are working,” Moody’s said.
The Centre has been able to push through economic reforms, especially allowing foreign investment in multi-brand retail, after the withdrawal of support by the Trinamul Congress.
Noting that “policy missteps and political paralysis” crushed business confidence and investment in 2012, the Moody’s report said, “India should enjoy a better 2013, though for different reasons.”