Explorer

Congress raises questions over Moody's reliability

Pune (Maharashtra) [India], November 18 (ANI): After U.S.-based International rating agency Moody's Investors Service upgraded India's sovereign rating to Baa2 from Baa3, the Congress party on Saturday raised questions over the reliability of the global credit rating agency who has conducted the surveys.

"The country does not run on such surveys neither the people of this country being astrayed by all this. Firstly, there is no reliability of company who conducted these surveys. Prime Minister Modi and the Bharatiya Janata Party has conducted a survey by an American company and claims that everything is fine," Congress leader Anand Sharma told ANI.

However, former Economic affairs secretary Shaktikanta Das and Niti Aayog CEO Amitabh Kant has hailed India's upgradation by global credit rating agency Moody's.

Earlier in the day, Moody's upgraded India's sovereign rating to Baa2 from Baa3 and changed the outlook to stable from positive, thus providing a much-needed impetus to the Modi government.

Reports suggest that the global rating company said the reforms undertaken by the government would lead to an enhanced business environment, fuelling the foreign and domestic investment, and subsequently the growth momentum. It also noted that the reforms implemented reduced the risk of a sharp increase in debt, even in potential downside scenarios.

However, Moody's argued that measures such as the Goods and Services Tax (GST), demonetisation, and others would need time to settle in, and the impact would be witnessed in due course of time. It also claimed that India's growth potential superseded that of many other sovereign nations. (ANI)


This story has not been edited. It has been published as provided by ANI

View More
Advertisement
Advertisement
25°C
New Delhi
Rain: 100mm
Humidity: 97%
Wind: WNW 47km/h
See Today's Weather
powered by
Accu Weather
Advertisement

Top Headline

PM Modi Calls Congress A 'Bully' After Lawyers Write To CJI. Here's What He Said
PM Modi Calls Congress A 'Bully' After Lawyers Write To CJI. Here's What He Said
Actor Govinda Joins Eknath Shinde's Shiv Sena, Likely To Contest From Mumbai North West
Actor Govinda Joins Eknath Shinde's Shiv Sena, Likely To Contest From Mumbai North West
Sanjiv Bhatt Gets 20 Years In Jail Day After Conviction In 1996 Drug Seizure Case
Sanjiv Bhatt Gets 20 Years In Jail Day After Conviction In 1996 Drug Seizure Case
Kejriwal To Stay Delhi CM From Jail As High Court Finds 'No Legal Bar,' Ball In LG's Court Now
Kejriwal To Stay Delhi CM From Jail As High Court Finds 'No Legal Bar,' Ball In LG's Court Now
Advertisement
for smartphones
and tablets

Videos

Bihar Lok Sabha Polls 2024: ABP Exclusive With Papu Yadav, MP No Longer Contesting From PurniaVarun Gandhi Pens Emotional Letter To Pilibhit After Being Denied, Says 'Mai Aapka Hu Aur Rahunga'Delhi Excise Policy Case: With CM Arvind Kejriwal's Arrest, Who Will Run The State | Watch ReportLok Sabha Elections 2024: 'BJP Just Wants To Break The Aam Aadmi Party' says Saurabh Bhardwaj
Embed widget