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Global rating agency, Moody's Investor Service has upgraded India's sovereign rating to Baa2 from Baa3 and changed the outlook on the rating to stable from positive.
The move by the international rating agency is a pat on the back for the Modi government which has over the last few quarters, been struggling to push economic growth, due to the impact of demonetization and the GST.
Stocks in India are slated to open higher, as the SGX Nifty was suggesting, following the rating upgrade.
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