Rating constraints

India's economic size and complexity offer advantages

Economists at the Union Ministry of Finance, led by Chief Economic Advisor V Anantha Nageswaran, came up with a collection of essays last week. Dr Nageswaran and his team must be commended for bringing out this volume, which offers insights and contributes to the ongoing policy debate in areas such as inequality, India’s international trade position, and financing climate action. The volume begins with the issue of sovereign credit ratings and its associated problems. The Union government’s disagreement with the rating process is well known and it has raised the issue with global rating agencies in the past. The matter