P Chidambaram says, Moody's raised India's sovereign credit rating based on work done by UPA government

20 November 2017, 09:17 AM
Former finance minister P Chidambaram (Source: PTI file)
Former finance minister P Chidambaram (Source: PTI file)

Just a day after former Finance Minister (FM) P Chidambaram took a dig at Prime Minister (PM) Narendra Modi and his government on corruption tag as UPA II, has now rushed to stake claim on Moody's rating upgrade of India's soverign rating to Baa2.

P Chidambaram on Sunday said that the rise in Moody's rating of India's sovereign credit is mainly due to the good work done by the UPA government. 

"The ranking improved not because what happened yesterday but it improved based on what happened over seven or eight years. "I am happy that Moody's has raised India's ranking ... A major contribution to it was made by the UPA government andthe other part of the contribution was by the present government," he told reporters here.

Earlier the veteran Congress leader at the Tata Literature Live festival said, "Since the UPA-II was the last government that completed its tenure, that odium attached to the government. Wait for any government to complete its term of five years, the same odium will attach to that government as well."  

"I am not wishing it happens, but it will happen," said Chidambaram.

Wait for any government to complete its term of five years, the same odium will attach to that government as well."  

First Published: Monday, November 20, 2017 07:47 AM
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