Policy changes by government and RBI termed as ‘credit positive’ by Moody’s International rating agency, Moody’s has termed recent measures by the government coupled with those unveiled by the Reserve Bank of India (RBI) on the economic, fiscal and financial fronts as ‘credit positive’ for the economy since this would help sustain higher GDP growth and would go long way in addressing some of the constraints on the country’s sovereign credit profile. In a report, titled 'Recent policy changes to support growth acceleration', Moody's Investors Service lauded the recently launched ‘Make in India’ campaign which saw the government initiating some reforms in the labour and investment policies front. It also appreciated government’s financial inclusion measures, infrastructure development initiatives, clarity around inflation targets, as well as banking and energy sector reforms. Further, the international rating agency termed these measures as incremental rather than radical and underscored these measures would harness the country's economic advantages of size, diversity and a deep pool of labour and savings. Also, it added that such measures would not only improve country’s investment climate but also will allow the economy to reap the benefits of lower global commodity prices and international financial flows seeking real investment assets. Moody’s in its report highlighted that it expects incremental reforms to raise productivity, savings and investment growth  and  that if policies could lower fiscal deficits, stabilise inflation and strengthen the banking sector this would help mitigate the macro-economic and financial risks to growth that have been evident in the last three years. It added that higher investment and lower macro-economic imbalances could help sustain growth rates of around 7.5% over the next 5-10 years, which would be significantly higher than the 5%-6% growth Moody's expects for India in 2015. However, the rating agency ruled out any revision in the credit rating citing the present country's sovereign rating of ‘BBB- with a stable outlook’ already factors in its assessment that its growth potential is high and such higher growth rates would in themselves be of limited significance for the sovereign credit profile. Nevertheless, the international rating agency would re-assess country's institutional strength if inflation metrics, investment climate, policy predictability and transparency continue to show sustained improvement.