Economy still not out of trouble: Manmohan

The NDA government should not be "lured into false belief" that the economy is out of the woods, former prime minister Manmohan Singh said on Saturday, reacting to the Moody's upgrade of India's sovereign credit rating.

"I am glad that Moody's has done what they have done but we must not be, I think, lured into (the) false belief that we are out of the wood," he said in Kochi. Meanwhile, former finance minister P Chidambaram mocked at the government's elation over the sovereign rating upgrade by Moody's.

Just some months ago, the government had said the Moody's methodology was all wrong... A long letter was written by Shaktikanta Das (ex-economic affairs secretary) questioning Moody's ratings methodology, saying they've to revise their methodology as it's all wonky," he told the Tata Literature Live in Mumbai on Saturday.

Liked the story?

  • 0

    Happy
  • 0

    Amused
  • 0

    Sad
  • 0

    Frustrated
  • 0

    Angry