Moody’s has rated Modi’s handling of India’s economy “step above junk”: Rahul


PTI, Jun 2, 2020, 11:47 AM IST

New Delhi: Congress leader Rahul Gandhi on Tuesday, June 2 voiced concern over the state of India’s economy, saying global rating agency Moody’s has termed its handling by Prime Minister Narendra Modi “a step above junk”.

He said lack of support to the poor and small and medium industry indicates that the worst is yet to come.

“Moody’s has rated Modi’s handling of India’s economy a step above JUNK. Lack of support to the poor and the MSME sector means the worst is yet to come,” he said on Twitter.

Moody’s Investors Service has downgraded India’s sovereign credit rating for the first time in more than two decades, saying policymakers will be challenged to mitigate risks of low growth, deteriorating fiscal position, and financial sector stress.

Downgrading India’s rating by a notch to ‘Baa3’ from ‘Baa2’ assigned in November 2018, Moody’s on Monday estimated India GDP shrinking by 4 percent first full fiscal contraction in more than four decades, as the country faces a prolonged period of slower growth.

‘Baa3’ rating is the lowest investment grade just a notch above ‘junk’ status. Moody’s had last downgraded India’s rating in 1998.

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

Top News

Women centric schemes game-changer for Maharashtra, Jharkhand?

AR Rahman sends notice to ‘slanderers’ over speculations surrounding separation with Saira Banu

No anti-government sentiment in Kerala, claims CM Vijayan

Jaiswal’s Perth Simulation: 200 overs in 2 days, inclined concrete slab, lighter synthetic balls

PCB says no meeting with ICC, BCCI officials on November 26 to resolve CT imbroglio

Australia coach McDonald surprised about behaviour of wicket on Day two

Sharad Pawar: Assembly poll rout raises question of existence for patriarch’s political legacy

Related Articles More

Women centric schemes game-changer for Maharashtra, Jharkhand?

No anti-government sentiment in Kerala, claims CM Vijayan

Maharashtra poll results unexpected, incomprehensible: Uddhav Thackeray

Delhi Police constable stabbed to death in Govindpuri, one held

BJP snatches one Lok Sabha seat from Congress; Maharashtra win boosts Rajya Sabha majority prospects

MUST WATCH

Prakash Belawadi

Naxal Leader Vikram Gowda

Christmas Cake Fruit Mixing

DK Shivakumar

Rose Cultivation


Latest Additions

Satwik, Chirag doubles pair bows out of China Masters semifinals

Puttur: Two arrested for misconduct under influence of drugs

Kaup: Massive campaign and awareness rally Nov 26 for Constitution protection

Never entered into pact to operate airport in Kenya: Adani

Women centric schemes game-changer for Maharashtra, Jharkhand?

Thanks for visiting Udayavani

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