Arun Shourie says economic policy makers should not take ratings seriously

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Former union minister Arun Shourie on Friday likened reports by international rating agencies, such as Moody’s, to “schoolboy reports”. He said economic policy makers should not take either negative or positive ratings by international rating agencies seriously.

Shourie, a union minister in the Atal Bihari Vajpayee government, bemoaned that policy makers in the Narendra Modi government lacked the “attention span” needed to reform the economy, which he said was a task akin to running a marathon.

Speaking at a book launch event here, Shourie said he has worked in the World Bank for nine years. He said the time when