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S&P not fair, says govt

Blasting Standard and Poor’s (S&P) for threatening to downgrade India’s credit rating to below-investment grade, minister of state for planning Ashwani Kumar has said that the global rating agency is not objective in its analysis.

business Updated: Jun 13, 2012 23:24 IST

Blasting Standard and Poor’s (S&P) for threatening to downgrade India’s credit rating to below-investment grade, minister of state for planning Ashwani Kumar has said that the global rating agency is not objective in its analysis.

Given India’s strong economic fundamentals, it “raises serious doubts on the objectivity” of S&P ratings, said Kumar. “I personally think that an S&P rating is not being fair to India.”

India is a $1-trillion economy, widely expected by experts to have the potential to become the third-largest economy surpassing Japan by 2030, he said.