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India losing Investment grade

In a government statement, Finance Minister Pranab Mukherjee states his disbelief in the rating agency’s report. He says that there would surely be a turnaround in India’s growth development in the coming months. He added that there are still investors who had put their trust in the country like the Foreign Institutional Investors which had poured around $12 billion of investment in the first five months of the current year.

This just proves that there would still be a good chance that the economy of the county would do well. This amount of investment is higher compared to the investment the country got last year in the same period. When the agency downgraded the outlook on India’s credit rating the analyst Takahira Ogawa said that nothing had changed.

He believes that the economy of India is still doing well. Among the reasons why India got a small rate is due to slowing GDP growth and some political issues that needs to be addressed in the soonest possible time. The government should be fast in dealing with this so that investors would not be afraid to pour money in the country.

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