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Moodys downgrade India’s outlook from ‘Stable’ to ‘Negative’, Govt says ‘Fundamentals robust’

Moody’s said the outlook partly reflects government and policy ineffectiveness in addressing economic weakness, which led to an increase in the debt burden.

 

The shadow of slowdown is looming over the Indian Economy. This was confirmed once again when the Credit rating agency Moody’s Investors Service downgraded the outlook for Indian Economy from ‘stable’ to ‘negative’. It has also warned about India’s sluggish economy.

Also Read: Supreme Court to be blamed for the current slowdown in India says Harish Salve

It cited increasing risks that the country’s economic growth will remain lower than in the past. Moody’s said the outlook partly reflects government and policy ineffectiveness in addressing economic weakness, which led to an increase in debt burden from already high levels.

Meanwhile, the govt, as usual, is busy finding a silver lining to this. It said the fundamentals of the economy “remain quite robust” with inflation under check. It said India continues to be among the fastest-growing major economies in the world and its relative standing remains unaffected.

 

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