Finance Minister Nirmala Sitharaman has said that S&P Global Ratings’ revision of its outlook on India from ‘stable’ to ‘positive’ is a welcome development. In a social media post, she said that this reflects India’s solid growth performance and a promising economic outlook for the coming years. The Finance Minister attributed this development to the series of macroeconomic reforms undertaken since 2014, along with a substantial outlay for capex, fiscal discipline, and decisive and visionary leadership. She further added that India is well on track to become the third-largest economy.