S&P's GAME

The Hindu Business Line, October 21, 2015
Letters
S&P’s game
This refers to ‘S&P retains India’s rating at BBB- with stable outlook’ (October 20). In today’s world two years can be too long to predict growth trajectories of countries like India. Three other factors show the agency’s anxiety to show India in poor light. One, the agency’s expectation as to how a yet-to-be constituted monetary policy committee should function, which is a matter internal to India. Two, the size of India’s GDP is not comparable with GDP figures of developed countries as a large proportion of India’s savings still remain unmapped. Three, for historic reasons, economic development in India has not been uniform in all geographic regions, and some of the relatively more developed regions have populations larger than some developed countries and have a higher level of economic development. All these point to the need for India to set up an internal agency capable of collecting and interpreting data to the country’s advantage.
MG Warrier
Mumbai


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