NEW DELHI: In a much-needed shot in the arm, global think-tank OECD today pitched for a rating upgrade for India and said global rating agencies had become "overtly cautious" and conservative in not revising India's rating for last 14 years. "I believe India deserves a better rating," said Angel Gurria, Secretary General of the Organisation for Economic Cooperation and Development (OECD).He said the rating could be changed to "neutral" and then "positive". Rating agencies calculate the likelihood of default on a borrowers credit. "He further said, "Do I believe that the rating agencies today should increase India's rating? "Gurria said rating agencies have become "so overtly cautious" as they "don't want to be caught being overtly aggressive.

Source: Economic Times February 28, 2017 13:30 UTC