New Delhi, Sept. 2 -- Former 15th Finance Commission Chairman NK Singh on Wednesday called the upgrade of India's sovereign rating by Japan Credit Rating Agency (JCRA) a "magical moment" and also emphasised the "robustness" of India's new GDP methodology.

"The A-rating upgrade by the Japanese Credit Rating Agency is a magical moment for India and calls for celebration. We need to applaud the robustness of the new GDP methodology," Singh said in a post on X.

JCRA upgraded India's foreign currency and local currency long-term issuer ratings by one notch to A- from BBB+, with a stable outlook.

Singh also defended the changes made under the new GDP series, saying changes in base years are routinely undertaken globally to capture changes in...