India’s Budget Adequate for Ratings Upgrade, Top Adviser Says

India’s plan to rein in its budget deficit should be enough to raise the nation’s credit rating, the country’s top economic adviser to the government said, even though the major rating companies said they’re not ready to do so.

“We believe the measures are more than adequate to get a credit ratings upgrade,” Chief Economic Adviser V Anantha Nageswaran said in an interview Friday with Bloomberg TV’s Yousef Gamal El-Din. “There is enough in the budget to signal the government’s commitment to the path of fiscal prudence and stability and I hope the credit rating agencies will indeed take note of them.”