Hi guys...what is your view on S&P's view on India?Will indian economy fall first amongst the BRIC nations?
Standard & poor should not be taken seriously as it's irresponsible and unfounded ratings only dampens the mood of investors to invest in the market. After all it is this rating agency that downgraded USA, but Obama uplifted the mood of investors by confidently saying that " America was always no.1 and will always remain so." I wish even we had such a dynamic and charismatic leader.
Infact, I think that the current economic slowdown is just a temporary phase and things should revert back to it's original position after a few months.
Thank you Maulik for raising this current issue.
MJ Krishnamurthy
(ACCT(Retd))
(7197 Points)
Replied 13 June 2012
Mr Maulik,
The report of S & P should not be taken seriously.Our economy is growing stronger by every year and our baiscs such as employment,infrestructure,FE assets,and GDP are steadily improving.If certain policies could not be decided by the Central Govt fast .and there are some setbacks,like weak monsoon or floodsetc,which are common everywhere, it does not mean the country as whole is on the downslide. How can it be Spain and Greece are better rated han India. So.there is nothing to feel alarmed at S&P assessment.....MJK.
CAclubindia
