New Delhi: The government on Wednesday slammed global rating agencies for not upgrading India's sovereign rating despite a slew of reforms, saying they need to do some “introspection” as investors globally feel the country is “under-rated”.
Talking to reporters after S&P Global Ratings ruled out an upgrade for India for next 2 years, while retaining rating at lowest investment grade 'BBB-', Economic affairs secretary Shaktikanta Das said the government will continue to adhere to the path of economic reforms and policies.
“If the rating has not been improved, it's a matter which doesn't bother us so much. It's a question which calls for an introspection among those who do the rating,” Das said.
He said global investors feel India is highly “under- rated”.
“There is a disconnect, therefore, between what the investors are thinking of, what they have in their mind, and (what) the rating agencies are concluding. I think somewhere there is a disconnect,” he said.
Das cited various steps taken by the government in the last two years, including controlling inflation and structural reforms like GST and bankruptcy.
