Live news , top stories, corporate news, company news, sector news, economy news, results analysis news, ceo interviews, fund manager interview, advisor interview, market news, bazaar talk, hot stocks news, ipo news, commodities news, mutual fund news, insurance news, news wire
10 October, 2015 23:35 IST
No serious threat of downgrade: FM
Source: DDI | 11 Oct, 2012, 03.38PM
Comments  |  Post Comment

Promising more reforms initiatives in the next two years, Indian Finance Minister P Chidambaram said that there was no serious threat of downgrade of the country's credit rating by Standard and Poor's.

''I don't think there is a serious threat of downgrade'', he said when asked about his reaction to the recent threat of downgrade of India's credit rating to junk grade in 24 months by global agency S&P if more reforms measures were not implemented.

The Minister said there would be lot of action on the reforms front in the next 24 months, the timeline provided by the S&P.

The rating agency had in its report yesterday said that there was one-in-three likelihood of rating downgrade for India if ''the country's economic growth prospects dim, its external position deteriorates, its potential climate worsens, or fiscal reforms slow''.

The Minister said, ''(we will) convince them that India does not deserve a downgrade and in terms of growth and growth potential...India is way above most countries of the world''.

Comments Post comment 
 Post Comment
Name Email
Security Code type    into this box
Related Articles
TCI board approves demerger of subsidiary - 09-Oct-2015 19:25
Tata Motors to invest USD 2 bn in Slovak Republic - 09-Oct-2015 19:01
Suprajit Engineering acquires balance 10.88% stake in Phoenix Lamps - 09-Oct-2015 16:56
Analysts see sequential rise in Infosys Q2 earnings - 09-Oct-2015 14:57
Unichem Labs gets USFDA nod for Montelukast Sodium tablets - 09-Oct-2015 14:56
IndusInd Bank Q2 profit climbs 30% - 09-Oct-2015 14:32
Aurobindo gets USFDA nod for Aripiprazole tablets - 09-Oct-2015 13:02
Cairn India's production rises 1% in H1FY16 - 09-Oct-2015 12:57
FIIs, DIIs reduce stake in Thermax in Sept quarter - 09-Oct-2015 12:38
Reliance Sec recommends 'Buy' on Persistent Systems; target Rs 875 - 09-Oct-2015 12:04
FIIs, DIIs raise stake in Crompton Greaves in September quarter - 09-Oct-2015 11:53
Home  |   Shares  |   F&O  |   Mutual Funds  |   Loans  |   Insurance  |   News Centre
Wealth Tracker  |   Newsletters  |   Tax Corner  |   NRI Centre  |   Advertise
© All rights reserved. IRIS Business Services Limited
A Disclaimer