Global rating agency Moody’s on Wednesday downgraded China and cut its credit rating for the first time since 1989. This comes in the wake of a recent criticism by Chief Economic Advisor Arvind Subramanian who this month while delivering the VKRV Memorial Lecture had reportedly said that the rating agencies are following “inconsistent” standards while rating India and China, however, favouring more the latter.
He had said,” India had been placed in the lowest investment grade by these agencies which leads to higher cost of borrowing in the global markets due to investor risk perceptions associated with it.”
http://www.financialexpress.com/economy/as-moodys-downgrades-china-what-is-in-store-for-india/683127/
He had said,” India had been placed in the lowest investment grade by these agencies which leads to higher cost of borrowing in the global markets due to investor risk perceptions associated with it.”
http://www.financialexpress.com/economy/as-moodys-downgrades-china-what-is-in-store-for-india/683127/
