NEW YORK (Reuters) - Minister of State for Planning Ashwani Kumar defended India on Thursday, saying its expected growth rates and projects to boost internal trade and development do not warrant a junk status credit rating. On Monday, Standard & Poor's warned that India could become the first so-called BRIC economy to lose its investment-grade credit rating citing slowing economic growth and policy inaction for instituting economic reforms. The rating agency cut India's BBB-minus rating outlook to negative in April, meaning it expects to make a decision within a 6-24 month time frame. ...

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