JCR upgrades India to A- after 7.8% June quarter growth
Business
India's credit rating just went up, from BBB+ to A-, thanks to the Japan Credit Rating Agency (JCR).
This basically means JCR now sees India as more financially stable and reliable, especially after the economy grew by 7.8% in the June quarter, beating even the Reserve Bank of India's expectations.
JCR cites spending investment and reforms
JCR pointed to strong spending by people, bigger government investments, and reforms like GST and digital infrastructure.
India's banks are healthier now too, with bad loans dropping to 1.8%, and foreign exchange reserves hitting a record $729.33 billion.
Even though public debt is high, there are plans to bring it down while keeping growth above 6% in FY27.