S and P upgrades India’s rating outlook to positive

S and P Global Ratings on Wednesday upgraded India’s sovereign rating outlook to positive from stable while retaining the rating at ‘BBB-‘ on robust growth and improved quality of government expenditure. S and P said it could upgrade India’s sovereign rating in the next 2 years if the country adopts a cautious fiscal and monetary policy that diminishes the government’s elevated debt and interest burden while bolstering economic resilience.