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Moody’s downgrade India’s outlook from ‘Stable’ to ‘Negative’, blasts ‘Govt Ineffectiveness’

In a massive setback for India, Moody’s Investors Service changed its outlook on India’s ratings to “negative” which was earlier termed as “stable”. It cited increasing risks that the country’s economic growth will remain lower than in the past. It 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. #Moodys #India #EconomicSlowdown

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