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  • Category: Miscellaneous

    Moody’s boost to Modi

    India got First Sovereign Credit Upgrade since 2004.
    Prime Minister Narendra Modi has been criticized by many for the fall out of demonetization and GST implementation. But Moody's arguing reforms helped to stabilize India's rising debt levels. This is coming just week after World Bank moved India up 30 places in its annual ease of doing business rankings.
    Following the upgrade S&P BSE Sensex jumped 1.1%
    Do you think this is a New Year/Christmas gift from our great brother US to contain China?
  • #616134
    May be . This may be the reason. But it can'tbe Done without any development in the country. The infrastructure , the licensing system, the encouragement from government for doing business in India or from iIndia is now much better than all earlier times. That is attracting entrepreneurs from other countries to come and start doing manufacturing and selling in India. This will be good for the country, as the chances of employment to the near by people will increase. Instead of thinking why Iti's improved, let us think how to make use of this good times for our self sufficiency.
    drrao
    always confident

  • #616140
    It could be viewed in many ways and one of them is to support one country is indirectly to weaken its neighboring country. This strategy is used in International diplomatic and economic policies. There are many theories of USA support rebel leaders to weaken a government that unfavorable to the USA. So, there is no end to conspiracy theories. My concern is this, the rating change and world bank ranking is good. But we still need a long way to go, especially not lose focus or momentum in implementing the reforms. Demonetization, GST, bank non-performing Assets rescue plan, all have to be implemented in reality to benefit the Indian economy. We have seen many excellent boardroom plans go wrong in the real world. Let's be happy about the achievement but put every effort in ensuring that the reforms show results. If not we would go from Baa2 to Baa3.

  • #616145
    It is quite natural that some people in India don't believe in India's development story. To them, India is a country of beggars and snake-charmers. But we have to ignore them. We have to ignore them to take India back to old glory. For this, we have to work very hard. We must not remain satisfied with Moody's ranking. We have to be No. 1 in economic, social and military indicators.

    Let the skeptics say what they want.

    Caution: Explosive. Handle with care.

  • #616203
    Long back I used to hear that Miss World 2000 and Miss Universe 2000 were given to Indians because western countries wanted to capture Indian markets. Thank God, this time the event was held in China. Otherwise, even this win could have been attributed "to please India to contain China".
    Coming to the thread, as Indians, we should always welcome any decision that enhances the fortunes of India. It is not necessary to view everything in critical angle.

  • #616223
    I am one who does not rejoice when a foreign rating agency or a foreign media or even the result of some survey gives some credit t India. Exactly in similar way I also do not worry if they downgrade us in anything.
    As a nation we have our own unique problems and solutions. We cannot ditto others or comply all expectations of others.
    Hence those who have based the foreign ratings and surveys earlier to criticise our government have to accept this upgrade in rating. Similarly if the government had ignored the earlier poor ratings by these agencies, they do not have any right to take credit now.

    What we can now infer is that relatively the foreign investors are finding India better that their erstwhile investment places. However the government has to be extra alert and monitor to prevent capital flowing into speculative and unproductive areas. It also should check to prevent sudden mass outflow of foreign exchange on profit taking and there by creating shocks in the market. Government should also monitor the illegal, tax evasive and deceptive ways of investment flow.

  • #616227
    When major steps were taken by Modi government, the Finance Minister Arun Jetley gone on the records that the benefits of this government action would be felt after long run and there would be surely teething problems to the economy in the beginning. But even well experienced former PM and ex Finance Minister Manmohan Singh wont agree to that notion and went on criticizing the Modi government on demonetization. Now on Moody's upgrade on Modi's policies, the opposition is tight lipped and now finding out ways to criticize Moody on how they can release such upgrade statement when India is going to have the acid test assembly poll for Gujarat shortly. Surely Modi is going to win Gujarat polls on his own and Congress would bite the dust once again. Mind it for the performers the support would be increasing but wont decline.
    K Mohan
    'Idhuvum Kadandhu Pogum "
    Even this challenging situation would ease


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