If the numbers prove to be wrong, so be it, as long as the global rating agencies and key vote banks go away happy with this year's budget.
It has also received international applause as it was ranked number 17 on a global rating of right to information laws by the Centre for Law and Democracy.
With one eye on the global rating agencies that threatened to downgrade India to junk status, P Chidambaram has ruthlessly slashed expenditure in 2012-13 to contain the fiscal deficit.
The coalition has long banked the credibility of its deficit reduction programme on the verdict of the global credit rating agencies, Moody's, Standard and Poor's and Fitch.
Li Fei, analyst for Dagong Global Credit Rating Company and author of the bond rating report, told FORBES that optical fiber preform is the upstream product of the optical fiber industry and requires high technical content in its manufacturing techniques.
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With MF Global, the rating companies find themselves on the hot seat once again.
The subcommittee asked for all documents related to meetings between MF Global officials and rating firms' employees, as well names of analysts involved in rating the firm's debt.
Whether it is faulty ratings on Worldcom, Enron, structured financial products, or MF Global, the failures of rating agencies to exercise due diligence have significantly affected markets.
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But it is telling that even after the debt-ceiling debate and the credit-rating downgrade, global investors remain happy to buy American debt because they still see America as a haven in a troubled world.
Moody's, the international credit-rating agency, recently warned that global consumer electronics giants are vulnerable to problems arising from "low consumer spending and rapidly declining prices" in North America and Europe.
Regarding how MF Global treated customer funds, the subcommittee will focus on whether the rating companies looked into the futures firm's internal processes and systems.
Some 74% of sell-side analysts have a negative rating on Commerzbank, according to Dan Waterman of brokerage Aviate Global, and the stock has been heavily shorted by hedge funds.
In the wake of late Oct. 2011 collapse of brokerage MF Global as the debt crisis in Europe escalated, some investors and independent rating agencies were all but ready to write Jefferies off.
Investors' confidence can hardly have been enhanced by the performance of Moody's and other rating services as the Chinese begin to experience widespread effects from the global financial crisis.
"Although we believe that Volvo will profit from its global brand positioning, the short-term uncertainty leads us to downgrade our rating to 'sell, '" analyst Jose Asumendi said in a research note.
Forbes Global Publisher Domingo Cavallo, former economy minister of Argentina, recommends that the IMF become a rating agency.
In June, the Pew Global Attitudes survey determined that the United States and Americans only have respectively an 8 and 11 percent favorable rating in Turkey.
The rating firm found in an Aug. 3, 2011, credit opinion that one of MF Global's "credit strengths" were efforts to "strengthen risk management, " according to the subcommittee's letter.
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