Appalled at S&P's unfair ratings to India: Govt

June 13, 2012 12:55

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 the global rating agency is not objective in its analysis and not fair to the country. Given India's strong economic fundamentals, it "raises serious doubts on the objectivity" of S&P ratings, said Kumar, who is visiting the US as part of the Indian delegation for the US-India Strategic Dialogue.

"I personally think that an S&P rating is not being fair to India," Kumar said. "I am appalled by the findings of Standard and Poor's and am certainly disappointed that S&P has chosen to club India with some of the countries with which there can be no reasonable comparisons," he said.

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