S&P's rating of Indian economy

DR.T.V.Gopalakrishnan , Mumbai , says: Based on the past two or three years performance and taking into consideration the deteriorating fundamentals of the economy,the S&P's projections are realistic.Unfortunately, no serious actions seem to be coming from the Govt to set right the issues to give a boost to economy although India has got the strength to perform better. The budget did not provide any concrete measures to revive the confidence.On the contrary, the measures announced to reopen cases with retrospective effect by bringing in amendments to act has shaken the confidence of investors of present and future.Besides, there are no specific measures to contain fiscal deficit, current account deficit, inflation and unemployment,inequality of income, corruption and black money. only the Reserve bank seems to be worried a little and the coordination between the Reserve bank and the Govt is also gradually missing to tackle the economy's problems of late as revealed by the latest monetary policy of the Reserve bank. 26 Apr 2012, 0728 hrs IST (This comment under opinion poll was published in ET dated 26/04/12).