Indian Finance minister has a tough job of keeping the middle class happy and to reduce the fiscal deficit. The industry is also looking for help from FM as many sectors have seen decent growth in the recent quarters, helped by stimulus package and favourable market conditions.

Moody's Investors Service has issued a new statement regarding the credit rating for the country. The latest report said, "India's credit rating may be raised from junk if Finance Minister Pranab Mukherjee provides a comprehensive plan to roll back fiscal stimulus and cut the budget deficit this week."

Moody's has currently placed India's long-term local currency debt at par with Armenia and Turkey at two notches below investment grade at Ba2.

The FM can bring in bridging the budget shortfall which shall be augmenting the economic growth, enhance tax revenue and to resume asset sales which was a tough political authorization after last year's elections.

On the Bombay Stock Exchange, benchmark Index rose 0.3% to 16,237 and also rupee appreciated by around 0.2% to 46.21 per dollar. It also saw Bond yields to fall by five basis points to 7.83% here on Monday at the time of close of Market.

Gross domestic product is consisting of Indian government debt which accounts for about 80%. The credit rating getting too low is not a good sign for any economy especially for a developing country like India. In next year's budget, Asset sales and enhanced tax collections can make the budget deficit to narrow down in the next fiscal year. Also a curb on inflation rise is also much needed.