Fitch upgrades India's outlook to 'stable'

New Delhi, June 12 (IANS) International ratings agency Fitch Wednesday upgraded its outlook on India to "stable" from "negative", a move that is likely to boost investors' sentiment in Asia's third largest economy.

The agency affirmed its sovereign ratings on India at 'BBB-', the lowest investment grade.

The revision of the outlook to stable reflects the measures taken by the government to contain the budget deficit, including the commitments made in the 2013-14 budget, as well as some, albeit limited, progress in addressing some of the structural impediments to investment and economic growth, Fitch said in statement.