Unlike Moody's, S&P is known to be conservative, says Piyush Goyal

Minister says agency's outlook is positive, with much praise for Modi govt's policies, which are being recognised worldwide

Standard & Poor's today kept its outlook on India stable and lauded the Modi government's fiscal consolidation drive. The ratings agency retained its BBB- rating while taking a favourable view on reforms being undertaken.

Speaking to ANI, Union Minister Piyush Goyal, said, "It's an affirmation of the policies of the government being recognised worldwide. S&P has given an overall positive outlook with much praise for Modi govt's initiative". 

However on the issue of upgrade, he said, "Didn't expect any upgrade from S&P at this time. Moody's has done 2 upgrades so far and S&P is known to be