Press Esc to close
Thursday 18 December 2014
News updated at 11:19 AM IST
Weather
Max: 26.2°C
Min : 19.5°C
In Bengaluru
Generally cloudy

More reforms on way; no serious threat of downgrade:FM

Tokyo, Oct 11, 2012 (PTI)
Finance Minister Palaniappan Chidambaram speaks during a news conference at the Annual Meetings of the International Monetary Fund and the World Bank Group in Tokyo October 11, 2012. REUTERS

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, who was addressing a press conference on the sidelines of the IMF-World Bank annual meetings, said that 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".


Go to Top

Photo Gallery
School children in Ahmedabad praay as they pay tributes...

School children in Ahmedabad praay as they pay tributes...

School children of Gurgaon pay tributes to the children killed in Pakistan...

School children of Gurgaon pay tributes to the children killed in Pakistan...

Kashmiri Muslim women pray outside the shrine...

Kashmiri Muslim women pray outside the shrine...

School girls take part in a protest against attack at a Peshawar school...

School girls take part in a protest against attack at a Peshawar school...

A Pakistani man comforts a student standing at the bedside of a boy who was injured in a Taliban...

A Pakistani man comforts a student standing at the bedside of a boy who was injured in a Taliban...

Pakistani parents escort their children outside a school attacked by the Taliban in Peshawar...

Pakistani parents escort their children outside a school attacked by the Taliban in Peshawar...

Ambulances carry injured people outside a school attacked by the Taliban in Peshawar, Pakistan...

Ambulances carry injured people outside a school attacked by the Taliban in Peshawar, Pakistan...

Relatives of a student, who was injured during an attack by Taliban gunmen on the Army Public...

Relatives of a student, who was injured during an attack by Taliban gunmen on the Army Public...

A plainclothes security officer escorts students rescued from nearby school during a Taliban...

A plainclothes security officer escorts students rescued from nearby school during a Taliban...

A Pakistani army soldier takes position on a bunker close to a school under attack by Taliban...

A Pakistani army soldier takes position on a bunker close to a school under attack by Taliban...

Copyright 2014, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bengaluru - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523