The Standard & Poor's (S&P), global agency, has held on to India's rating at the lowest investment grade while maintaining stable outlook. This comes as a relief after Moody's earlier lowered the rating by a notch.
Giving the rating, the agency says that the Indian economy remain an outperformer compared to its peers with similar income scale.
Nonetheless, the pandemic casts a dent on the economy's economic growth trajectory.
The agency believes that the reforms initiated by the centre will bear fruits in the long run.
Also, Fitch Ratings that India will growth at a GDP of 9.5% after having fallen 5% in FY21.