New Delhi: In a big vote of confidence in the Narendra Modi-led government, Moody’s on Thursday raised India’s credit rating outlook to “positive” and said an upgrade in its sovereign rating is also possible in the next 12-18 months. India’s sovereign rating currently stands at ‘Baa 3’, the lowest investment grade — just a notch above “junk” status. Upgrading the outlook from “stable” to “positive”, the global rating agency said that India has grown faster than many other peers over the last decade and the actions of the policymakers should further boost the country’s economic and financial strength in coming years.