Rating agencies far from India's ground realities: Shaktikanta Das
PTI Upset over not getting a rating upgrade, India has lashed out at global rating agencies saying they are far detached from ground realities and must introspect as the reforms initiated certainly warranted an upgrade. Economic Affairs Secretary Shaktikanta Das said India was being denied an upgrade even as growth and fundamentals improve. In past too, India has questioned the methodology used by global rating agencies saying the nation compares favourably with other emerging countries on metrics such as default risk. In particular, it points to S&P Global Ratings keeping China at AA- despite rising debt and slowing growth while India has been kept at one step above junk. Moody's and Fitch too give similar rating citing ...
India to register a growth rate of 7.2% in 2015: IMF
The Dollar Business Bureau A day after a McKinsey report quoted that India will register 6.5% growth in 2016, the International Monetary Fund (IMF) forecasts a growth of 7.2% for 2014-15 and 7.5% for 2015-16, based on the recently revised GDP methodology. The Indian economy is reviving, helped by positive policy actions that have improved confidence and by lower global oil prices, says the IMF in its annual assessment of the Indian economy To continue on this trend, India needs to revitalize the investment cycle and accelerate structural reforms, says the report and adds, the Indian economy is the bright spot in the global landscape, becoming one of the fastest-growing big emerging market economies in the world. “Growth numbers ...
