He slammed ratings agencies for not upgrading India "despite clear improvements in economic fundamentals". And he made a play on words with the name 'Standard & Poor's'.The chief economic advisor's comment at the time came after US-based agency Fitch kept India's sovereign rating at 'BBB-', a rating it assigned more than a decade ago.S&P last changed India's rating in January 2007, to BBB-, which is the lowest investment grade rating for bonds. "In recent years, rating agencies have maintained India's BBB- rating, notwithstanding clear improvements in our economic fundamentals (such as inflation, growth, and current account performance). "Rating agencies are inconsistent in their treatment of China and India," Subramanian added.The government's 'Economic Survey 2017' too slammed the agencies+ for following "inconsistent" standards while rating India vis-a-vis China. The Survey said it was a "poor" reflection of rating agencies' credibility.

Source: Times of India November 24, 2017 07:52 UTC