India's economic fundamentals demand a much better rating: CEA Subramanian

India's fundamentals demand a much better rating, Chief Economic Advisor Krishnamurthy Subramanian said on Thursday after Moody's downgraded the country's rating and S&P retained it at the lowest investment grade.

India's ability and willingness to repay debt is gold standard, he said making a case for ratings upgrade.

He took comfort in rating agencies acknowledging India's reforms, saying these are critical elements for higher growth next year.

On economic growth this year, he said it will depend on when recovery happens. It is uncertain