NEW DELHI: In a life-size economic boost to India, Moody's Investors Service raised India's economic bond rating for the first time after 14 yrs since 2004. Thrilled over the Moody's rating agency upgrading India, Bharatiya Janata Party National President Amit Shah said all because of Narendra Modi government's good initiatives introducing GST and Notban .

"Modi Government's good governance and reforms receive yet another vindication. Moody’s upgrades India’s sovereign ratings for the 1st time since 2004," Shah tweeted.

Modi Government’s good governance and reforms receive yet another vindication. Moody’s upgrades India’s sovereign ratings for the 1st time since 2004. https://t.co/ITQWJKG47f

— Amit Shah (@AmitShah) November 17, 2017

"Moody's believes that Modi Govt's reforms will improve the business climate, enhance productivity, attract more investment & put India on a higher growth trajectory," Shah further said.

Moody's believes that Modi Govt’s reforms will improve the business climate, enhance productivity, attract more investment & put India on a higher growth trajectory.

— Amit Shah (@AmitShah) November 17, 2017

Upgrading India from Baa3 to Baa2, Moody's said that the reforms being pushed through by Narendra Modi's government will help in alleviating rising levels of debt.

Shah also evoked the current increase in Ease of Doing Business rankings and Pew study and asserted that all these are a sign of the hard work that the Modi government’s remarkable attempt.

The rating agency has cited the government's execution of its economic reform programme includes the introduction of the Goods and Services Tax, Aadhaar system of biometric accounts and direct benefit transfer schemes and actions in use to deal with bad loans in the banking system.

The markets opened with a jump after Moody's released its ratings with Sensex skyrocketing 414 points and Nifty racing past 10,300.