New Delhi Hitting out at global rating firms for downgrading India's credit outlook, Corporate Affairs Minister Veerappa Moily today said there was no "economic tsunami" in the country and they should redesign their assessment parameters.
"Just because last two quarters have not been that good, doesn't mean there is an economic tsunami. There is no economic crisis in the country...Credit rating agencies will need to redesign some of their parameters and confine to economic parameters when rating countries," Moily said on the sidelines of a function organised by industry body Assocham.