Today, during the No-Confidence Motion, Union Finance Minister Nirmala Sitharaman while speaking in the Lok Sabha said that India’s economy was fragile in 2013, but today it is the fastest-growing economy in the world.
She said, “In 2013, Morgan Stanley had included India in the list of five fragile economies of the world. India was declared a fragile economy. Today, the same Morgan Stanley upgraded India and gave it a higher rating. In just 9 years, the economy rose and saw economic development due to the policies of our govt – despite COVID. Today, we are the fastest growing economy of the world.”
It was also added by the Finance Minister about India being in a rare position of being positive about its growth in the future.
As reported by a source which goes by the name, THE INDIAN EXPRESS, last week, Morgan Stanley, which is a Global banking group, upgraded India’s rating to ‘Overweight’, stating that structural reforms have taken place in the last few years and are currently bearing fruit, unlocking growth opportunities that were previously stagnant.
Morgan Stanley says, “India rises from number 6 to number 1 in our process, with relative valuations less extreme than in October. Multipolar World trends are supporting FDI and portfolio flows, with India adding a reform and macro-stability agenda that underpins a strong capex and profit outlook.”
