25 April, 2014 12:41 IST
News
No serious threat of downgrade: FM
Source: DDI (11-OCT-12)
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''.


News
Ambuja Cements standalone quarterly profit climbs 6.58% - 25-Apr-2014 08:53
Sun Pharma Advance Research names Anil Raghavan as CEO - 25-Apr-2014 08:46
Fitch rates Oil India's USD 1 bn notes at 'BBB-' - 25-Apr-2014 08:43
Biocon fourth quarter profit plunges 54.5% - 25-Apr-2014 08:32
Tata Metaliks loss narrows in Jan-Mar quarter - 24-Apr-2014 16:32
Granules India standalone quarterly net up 13.26% - 24-Apr-2014 16:29
ACC standalone quarterly net declines 8.9% - 24-Apr-2014 15:42
Oil Country Tubular standalone quarterly earnings soar 65.48 times - 24-Apr-2014 15:36
Bharti Infratel standalone quarterly net surges 40.64% - 24-Apr-2014 15:30
Infotech Enterprises standalone quarterly earnings rise 28.81% - 24-Apr-2014 15:22
UltraTech Cement standalone quarterly net climbs 15.40% - 23-Apr-2014 18:38
more...
* Q - Quote , N - News , C - Chart , F - Financials
Comments Post comment 
 Post Comment
Name Email
Comment
Security Code type   h3gpq2 into this box
Home  |   Shares  |   F&O  |   Mutual Funds  |   Loans  |   Insurance  |   News Centre
Wealth Tracker  |   Newsletters  |   Tax Corner  |   NRI Centre  |   Forums  |   E-mail  |   Advertise
© All rights reserved. IRIS Business Services Limited
A Disclaimer