The finance ministry has said it will try to assuage concerns of rating agencies on opting for higher deficit and other budget numbers while stressing that fundamentals of the economy are strong.

Economic affairs secretary Atanu Chakraborty said the economy remains robust and more than meets the requirement of investment grade and above.

Asked if he is apprehensive about a rating downgrade following relaxation in the fiscal deficit target, he said, “No, not at all. It (economy) is far too robust than our numbers reflect.”

This is the economy that has just decelerated, he said adding that no contraction took place. India's gross domestic product (GDP) growth is expected to slow to 11-year low of 5 per cent in the current financial year.

He further said the government will address the concerns of the rating agencies.