Moily slams rating firms for downgrading India

June 27, 2012

New Delhi, June 27 (ANI): Union Corporate Affairs Minister Veerappa Moily today said that the global agencies monitoring various countries’ economy and banking norms should redesign their assessment parameters and not arbitrarily come to conclusions like what they have passed on India. Speaking on the sidelines of a meeting hosted by Associated Chambers of Commerce and Industry of India (ASSOCHAM) in New Delhi he said that there was no ‘economic tsunami’ in the country. Meanwhile, talking about the proposed amendments to the new Companies Bill by the Standing Committee of the parliament, Moily said that the report has not yet been forwarded to his ministry as such he is unsure about the contents of the report.

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