In his budget statement to parliament, Finance Minister Arun Jaitley set the fiscal deficit for 2018-19 (April-March) at 3.3 per cent of gross domestic product, slightly higher than expectations for 3.2 per cent.
Most of the spending announced seemed to be on "productive investments" rather than 'one-time hand outs', said Joy Rankothge, Vice President of Moody's Investors Service told Reuters.
"You'll see more medium-long term benefits, again depending on how it's implemented and how it's funded," he said.
Moody's rates India at "Baa2" with a "stable" outlook.
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