Rating agencies trying to tarnish India's image: Vayalar Ravi

Union Minister for Overseas Indian affairs Vayalar Ravi today alleged international rating agencies are deliberately trying to downgrade the country's economic outlook to 'tarnish' its image at global fora.

Delivering the inaugural V C Padmanabha memorial lecture here, he said, downgrading of economic outlook by international rating agencies like Standard and Poor's and Fitchs was with a deliberate intention of 'tarnishing the country's image at international forums'.

The country's economic foundation was stable as it had attained about seven per cent GDP growth which even developed countries had failed to do so, he said.

Later speaking to reporters, he welcomed the CPI(M)'s decision to support Pranab mukherjee as a presidential candidate.

The Marxist party's decision proved it had a political stand, Ravi said.

On stand of other left parties like CPI and Forward Bloc to oppose Mukhrjee's candidature, Ravi hoped they would reconsider their decision.