Rating downgrade rears its head again

....."I don't think it's just a matter of opening up an FDI channel here or there, you have to address the root causes and send a signal that you are committed to making changes to narrow the deficits,'' says Subir Gokarn, former Deputy Governor of the RBI. "That is when you will start seeing new money from outside." CAD though may fall from the 4.8% of the GDP in 2013, but it may still remain far higher than the desired 2.5% for the next two years..................

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