Modi govt clutching at straws to reclaim lost credibility: Congress


Team Udayavani, Nov 17, 2017, 4:33 PM IST

New Delhi: The Congress today accused the Modi government of “clutching at straws” to reclaim the lost credibility, and said it and rating agency Moody’s have failed to gauge the mood of the nation. Congress communications in-charge Randeep Surjewala also sought to downplay Moody’s rating upgrade of India, saying the same agency had miscalculated US subprime mortgages before the economic meltdown.

“After destroying India’s economy, the Modi government is clutching at straws to claim lost credibility,” he said on Twitter. “Modiji and Moody’s ‘jodi’ (duo) have failed to gauge the mood of the nation,” he said, adding that hunger deaths, agri distress, job losses, lowest credit ratings, rising prices, plunging exports, flawed GST, demonetisation disaster, stagnant growth are the real indices to measure it.

Taking a dig at Finance Minister Arun Jaitley, Surjewala said, “Mr Jaitley, do remember that Moodys, S&P and other rating agencies defaulted in rating American sub-prime mortgages…before the economic meltdown.” “Lesson is stop acting and get your act together. Shun arrogance and listen to the trade and industry,” he told the finance minister.

The Congress leader said the Modi government relied upon a World Bank report of Delhi/Mumbai to claim all is well and quoted a PEW survey of 2,464 people to claim victory. “At this pace, Modiji should be fighting next election abroad,” he said, taking a dig at the prime minister.

“Mr Jaitley, history teaches us valuable lessons. You ignore them at your peril! As greed, collusion and crony capitalism sank banks and Wall Street, please read who contributed to wiping away people’s money. “Hope you are not following the same trajectory!,” he said.

Moody’s Investors Service today raised India’s sovereign rating for the first time in 13 years, saying growth prospects have improved with continued progress on economic and institutional reforms. The US-based agency changed its rating outlook to ‘stable’ from ‘positive’, saying the reforms will help stabilise rising levels of debt.

Top ministers and officials of the government hailed the rating upgrade by Moody’s as “long overdue” and hoped others such as S&P and Fitch will follow suit as it presses ahead with steps to ratchet up growth.

Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.

Top News

Karnataka HC denies anticipatory bail to Prajwal Revanna in sexual harassment case

Delhi court stays defamation case against CM Atishi

Awards don’t create value for independent films in India: Manoj Bajpayee

Public Alert: Cyber fraudsters impersonating traffic police to demand fines

UP: 25 people booked for attacking civic officials for encroachment removal

SC transfers cheating case against choreographer Remo D’Souza to Delhi court

Fishing vessel collides with naval platform off Goa coast; 2 fishermen missing

Related Articles More

Baba Siddique murder: Man held from Akola, 26th arrest in case

SC notice to Gyanvapi mosque committee on plea for ASI survey of ‘shivling’ area

Delhi court stays defamation case against CM Atishi

Sambhal Jama Masjid row: Friday prayers held peacefully amid tight security

Decide on disqualification petitions against BRS MLAs in reasonable time: HC

MUST WATCH

Christmas Cake Fruit Mixing

DK Shivakumar

Rose Cultivation

Geethotsava

Naxal Operation


Latest Additions

Satwik-Chirag enter semifinals, Lakshya loses to Antonsen in China Masters

BJP stages protest against Congress govt in Karnataka over Waqf properties row

Loyalty Remembered: Mangaluru Airport’s K9 hero Jack passes away

Waqf issue: BJP stages Namma Bhoomi Namma Hakku protest in Bengaluru

Bomb disposal squad tackles ‘security incident’ at UK’s Gatwick Airport

Thanks for visiting Udayavani

You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.