00:00And breaking news coming in, it's a big boost for Modinomics.
00:04Japan Agency upgrades India's sovereign rating.
00:08India's sovereign rating jumps from 2A- from BBB+.
00:13India's economic growth earns big upgrade.
00:187.8% growth as Japan Agency boosts India's rating.
00:24Japanese Agency says strong private consumption investment and lords Modi government's economic policies.
00:33Hails lower debt burden, better banking sector and highlights the recent GST bonanza for Indians.
00:42This is information that is coming in just now.
00:45The Japan rating agency has upgraded India's sovereign rating.
00:50Even as we are talking about a 7.8% GDP growth.
00:56We have Chetan Bhutani of Business Today on this story.
01:02Chetan, what does this mean really for the Indian economy and the way Indian economy is being looked at by
01:10the world?
01:11Well, Anisha, it definitely points out to a positive upgrade.
01:14The upgrade applies to both India's foreign currency and local currency long-term ratio ratings and comes nearly two decades
01:20after India was last upgraded to BBB+, in 2007.
01:25Well, Anisha GCR cited India's strong economic growth, robust private consumption and public investment, as well as improvements in the
01:32country's economic and financial foundations.
01:35It noted that the company grew that the Indian economy grew 7.7% in real terms in F526 and
01:41expects growth to remain above 6% in F527, which of course points out to a really nice GDP growth
01:47globally despite global volatility.
01:49The Japan credit agency also highlighted fiscal consolidation.
01:53India's central government fiscal deficit fell to 4.4% of the GDP in F526 from 4.7 earlier.
01:59Another key factor which is really important was the strengthening of the Indian financial system.
02:03JCR said that the banking sector's gross non-performing loan ratio fell to 1.8% at the end of
02:09March 2026, while capital adequacy and profitability remained sound.
02:13However, the agency has flagged high general movement, government debt and interest pertains as continuing challenges and said it will
02:20watch whether the government capital spending can generate greater private investment and reduce dependence on government shipping as well.
02:26Back to you.
02:27All right, Chetan, we are looking at the GDP numbers, we are looking at the Japanese agency and other countries
02:33also looking, taking it very, very positively.
02:36But within India, the opposition has raised certain concerns about how this GDP calculation is actually done.
02:45We are also seeing questions being raised about lived economic reality.
02:50We are also looking at questions of uneven distribution of wealth and how there is uneven growth in the country.
02:58But when we see the numbers versus real-time distribution of wealth, how are you looking at the impact of
03:08India's rating going up to what we can expect now in the economy further?
03:15Anisha, four things very important to point out that India's sovereign borrowing credibility has improved and will improve further.
03:21A rating essentially means that the government's debt servicing capacity and overall credit profile is much stronger than before.
03:29Secondly, the borrowing costs have a positive pressure.
03:32Higher sovereign rating generally means a lower perceived credit risk.
03:35And JCR is actually one of the highest, you know, most credible agencies considered globally for rating the government on
03:43it.
03:44Secondly, JCR upgrade is essentially a vote of confidence in India's growth model and improving economic fundamentals.
03:50So, as we see, in 2007, the last upgrade was done and now in 2026, after 19 years actually, we
03:57have a historical movement and a commentary from JCR coming on India's economy, which has to be watched out further.
04:03So, clearly, the numbers are not passed because what the political reactions are coming in needs to be watched out
04:08in terms of an earlier upgrade with old cities.
04:11And now we are rating India's GDP growth numbers by the present, you know, the system that the government has
04:18aligned in 2026.
04:19So, clearly, the growth percentage that has come up is actually a version of the government's present fiscal borrowing measure
04:27and, of course, on the present number validation as well.
04:31All right. Thank you very much for that.
04:33Chetan Bhutani bringing us the analysis of how the economic policies and the GDP numbers are now being looked at
04:41by the world and how this will affect India's economy going forward.
04:46Meanwhile, Prime Minister Modi hailed India's GDP boost. Listen in to what he said just yesterday.
05:17Let's stand there.
05:19હહા મસીં હણિં હંરી , પારણ હલીત્ં એ વસ્વતીશ હારણ હારીત્ારણ હંરણ કિંરણ પહરીત્રણ હારણ બા
05:56।
05:57उन सभी बातों को चीर करके देश ने 7.8% growth हासिल किया है
06:05हमें इस गति को बनाए रखना है हमें बढ़ना भी है और इसके लिए आत्मंदिर भर भारत बनना बहुत जरूरी
06:14है
06:14स्वदेशी का मंत्र भोकल फर लोकल विदेशों की यात्राएं अगर घुमने भिरने जाते हैं तो नहीं करना चाहिए
06:25शादी बाद विदेशों में करते हैं नहीं करना चाहिए
06:29in India
06:29in India
06:30when
06:30we may
06:31fight
06:35in
06:58India
07:01ॐ ॐ ॐ
07:28What about the bomb night?
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