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July 18, 2008 16:41 IST
Finance Minister P Chidambaram on Friday downplayed the lowering of India's credit outlook by global rating agency Fitch, saying it is not a cause of worry as economic fundamentals are strong."One rating agency has revised the outlook from stable to negative. I do not think that should cause us too much worry. We must look at fundamentals which I believe are still strong, but facing difficulties. I do not think we should worry about outlook," Finance Minister P Chidambaram told PTI. Fitch has earlier this week revised the local currency outlook of India to negative from stable because of fiscal pressures.
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