The S&P Global Ratings Director, Sovereign Ratings, YeeFarn Phua, has expressed optimism over the country’s rating upgrade and said that for India a sovereign rating upgrade is possible in the next 24 months if the central government is able to prudently manage its finances and bring down fiscal deficit to 4 per cent of Gross Domestic Product (GDP). He said the trigger for upgrade would be general government (Centre + states) deficit falling below 7 per cent of the GDP, and a lot of this would have to be driven by the central government.
The central government estimates to bring down fiscal deficit to 5.1 per cent of the GDP in the current fiscal, from 5.63 per cent in 2023-24. As per the fiscal consolidation roadmap, the deficit -- the difference between government expenditure and revenue -- will be brought down to 4.5 per cent by 2025-26. The rating agency had in May upgraded outlook for India to positive, from stable, while retaining the rating at 'BBB-'.
Phua further said the Indian economy has clocked an average of 8 per cent growth in the last three years, driven by domestic consumption and infrastructure investment that has made real difference on the ground. He added ‘We see the medium-term growth potential for India at 7 per cent’. He also said if the infrastructure bottlenecks are removed, that will lead to 8 per cent growth potential without the risk of overheating. S&P estimates India's economic growth at 6.8 per cent in the current fiscal, lower than 8.2 per cent in the last fiscal.
MoneyWorks4Me rating and ranking of funds for SIP is available to subscribers only. Moneyworks4Me is not a rating and ranking agency, however it is required that users have a way of selecting funds and building a Portfolio. The method used by it are described below to enable users to understand the logic behind the rating and ranking Subscriber will find more details on this in the various content made available from time to time. In case you need more please write to besafe@moneyworks4Me.com
MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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