New Delhi, Aug. 14 -- The Ministry of Finance reacted positively to S&P Global Ratings upgrading India's long-term sovereign credit rating to 'BBB' from 'BBB-' - the first such upgrade in 18 years, since January 2007.

In a lengthy post on social media platform X (formerly known as Twitter), the Finance Ministry credited the leadership of Prime Minister Narendra Modi, and promised continued growth momentum to achieve 'Viksit Bharat' by 2047.

The ministry wrote, "The Government of India welcomes the decision by S&P Global Ratings to upgrade India's long-term sovereign credit rating to 'BBB' from 'BBB-' and its short-term rating to 'A-2' from 'A-3', with a Stable Outlook."

It highlighted that "S&P last upgraded India in January 2007 to 'B...