Prudence and transparency is paying dividends, expect ratings agencies to appreciate this: CEA

Chief Economic Adviser V Anantha Nageswaran, whose pre-budget review set the stage for Thursday's interim Budget presented by Finance Minister Nirmala Sitharaman, told CNBC-TV18 that the government took a realistic approach in estimating fiscal parameters and asserted that growth and revenue projections are not overstated. Nageswaran contended that the commitment to prudence and transparency in fiscal management over the years is yielding positive results, suggesting that credit rating agencies should take note of these developments.

"It is realistic and we are not overestimating growth, we are not overestimating revenue buoyancy. We are doing it realistically and that shows that the path of prudence and transparency that has been followed over the last several years is paying dividends. And I think the rating agencies will and I hope, and they should take note of it," Nageswaran said in the post-Budget interview.

During a press conference following the interim Budget presentation, the Finance Minister, in response to a question about the government's message to rating agencies, Sitharaman said, "We are not just aligning with the fiscal consolidation roadmap as stated earlier; we are exceeding it. This straightforward statement should be duly acknowledged by every rating agency."