Noting that the economy has been on a downslide since September 2016, SBI Research today said the slowdown is real and not technical and called for more public spending to arrest the slide. "We certainly believe that we are in a slowdown mode since September 2016 and a slowdown that has been prolonged to Q1 of this fiscal year is technically not short-term in nature or even transient," SBI Research said in a report. The report said continuing slowdown has "raised the spectre of whether the slowdown is temporary or not" but stopped short of answering the question. "Let's not chase the rating upgrade mirage. India has had a solitary net rating upgrade in the last 25 years.

Source: Economic Times September 19, 2017 09:56 UTC