Global rating agency Fitch is more optimistic about India's fiscal policies and overall economy compared to last year, Economic Affairs Secretary Arvind Mayaram said.

Representatives of Fitch on Monday met senior finance ministry officials, including Mr. Mayaram, to review the country's economic scenario.

After the meeting, Mr. Mayaram said the rating agency was concerned over Indian banks' non performing assets (NPAs) but he added that the agency was satisfied on the economy's overall macroeconomic situation.

Speaking on the topic, he said, "I think they (representatives of Fitch) expressed satisfaction on the overall macroeconomic situation. In fact, they also assessed that from the last time they had come, the situation now is much better."

A senior financial ministry official said while Fitch was upbeat about the country's overall economy, it didn't promise an upgrade in the ratings. Fitch representatives reportedly said a revision could only take place after twelve months.

Global rating agencies typically come for a review meeting in May or June every year, but Fitch pre-poned the meeting this year because of the general elections, which are also scheduled to take place around May.

Currently, Fitch has 'BBB-' rating for Indian economy, with a stable outlook.