Moody's report vindicates Modi's policies: Amit Shah

Mr Shah tweeted, "Modi Government's good governance and reforms receive yet another vindication. Moody's upgrades India's sovereign ratings for the 1st time since 2004".

"Moody's believes that Modi Govt's reforms will improve the business climate, enhance productivity, attract more investment & put India on a higher growth trajectory.

Moody's remains bullish on reforms done by Modi Government and is confident of India's growth potential," he added.

Earlier in the day, Moody's Investors Service (Moody's) upgraded the Government of India's local and foreign currency issuer ratings to Baa2 from Baa3 and changed the outlook on the rating to stable from positive.