New Delhi: S&P Global Ratings on Friday said it will watch the fiscal numbers for the next 1-2 years, besides pro-growth policies of the new government, before deciding on India’s sovereign rating upgrade.

S&P, which earlier this week upgraded India’s outlook to positive while retaining the sovereign rating at BBB-, expects the new government to continue with pro-growth policies, infrastructure investment and commitment to fiscal consolidation.

“Within the next 2 years we will be closely observing whether the government’s depiction of fiscal consolidation path will carry on... We will be observing for the next 1-2 years to see how this fiscal numbers will come to pass and if so, this will lead to a rating upgrade,” S&P Global Ratings Analyst YeeFarn Phua said in a webinar.