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.

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.

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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.