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Economic Survey 2021 slams credit rating agencies, calls for transparency

The Economic Survey 2020-21, authored by a team led by Chief Economic Adviser Krishnamurthy Venkata Subramanian, states that India's sovereign credit rating does not reflect its fundamentals.

January 29, 2021 / 05:03 PM IST

Finance Minister Nirmala Sitharaman on January 29 presented the Economic Survey that details the state of the economy ahead of the government's Budget for the fiscal year beginning April 1, 2021.

The Economic Survey 2020-21, authored by a team led by Chief Economic Adviser Krishnamurthy Venkata Subramanian, states that India's sovereign credit rating does not reflect its fundamentals.

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Quoting Bengali poet Rabindranath Thakur "Where the mind is without fear and the head is held high  Into that heaven of freedom, my Father, let my country awake", the survey said it is imperative that sovereign credit ratings methodology be made more transparent, less subjective and better attuned to reflect economies' fundamentals.