Expressing optimism over the governments’ significant move of Goods and Services tax (GST) implementation in the country, global credit rating agency, Moody's Investors Service’s Vice-President (Sovereign Risk Group) William Foster has said that recently introduced new tax regime is still a work in progress and expected to stabilise in the next few quarters. Foster noted that this move will help in formalisation of Indian economy.
Moody's Vice-President also praised the Centre’s move to recapitalise public sector banks and expressed need of more such reforms in the country. He further noted that recapitalization was a necessary step to help banks and the government has provided necessary capital to the public sector banks to take the write down. On the upcoming union budget, he said that the government’s focus on spending towards capital formation will help strengthen the credit growth in economy.
Besides, the ratings agency is eyeing government’s intended use of funds and expecting that the borrowing will pay off if funds are allocated to the infrastructure spending. William Foster, however, pointed that targeting expenses on anticipated revenue is difficult. Besides, the rating agency said that oil prices will hover in range of $40-60 bbl in medium term as high oil production in US will put down prices.
Start Research-backed Investing ...Now. Subscribe to Sapphire
MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.
To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.
MoneyWorks4Me ensures this through: