Such reports hamper the credibility of the media
GN Bureau | November 5, 2015
The government on Wednesday called Moody's Analytics report as "irresponsible and distorted reporting by certain sections of the Indian media."
"The government notes with distress that the personal opinion of a junior analyst was passed off as a commentary on India by a Rating Agency by the media to buttress the narrative it wants to portray," an official statement said.
Calling the report the "personal opinion of a Junior Associate Economist employed with Moody's Analytics", the statement said it was "surprising that no due diligence was done" and "readers were not informed" about the difference between Moody's Analytics and Moody's Investor Services.
Such episodes, said the government, "seriously hamper the credibility of the media."
The report attributed to Moody's Analytics had on Friday said that PM Modi must keep BJP members in check or risk "losing domestic and global credibility".
Titled 'India Outlook: Searching for Potential', the report said the assembly elections in Bihar could "prove pivotal to Modi's leadership".
The report said: "While Modi has largely distanced himself from the nationalist jibes, the belligerent provocation of various Indian minorities has raised ethnic tensions. Along with a possible increase in violence, the government will face stiffer opposition in the upper house as debate turns away from economic policy. Modi must keep his members in check or risk losing domestic and global credibility."
It concluded: "Overall, it is unclear whether India can deliver the promised reforms and hit its growth potential. Undoubtedly, numerous political outcomes will dictate the extent of success."
Moody's Analytics is the economic research and analysis division of Moody's Corporation.
Reacting to the government's statement, a Moody's spokesperson said, "The report was published by and is the view of Moody's Analytics as part of its economic outlook series. The report included a section observing political developments in the context of their potential economic impact, and did not advocate any political agenda or perspective. Moody's Analytics provides economic research and analysis and is a separate company from Moody's Investors Service, the ratings agency."
BJP is all set to retain Gujarat, indicated one exit poll. Another exit poll, however, showed a tough fight in at least one region. Aaj Tak exit poll showed that BJP will win 99 – 113 seats, getting a majority in the 182 member assembly. The Congress will get 68 – 82 seats, falli
Goa shipyard Limited (GSL) has delivered the second fuel barge to Indian Navy on December 2, 33 days ahead of contractual delivery schedule, and recently got inducted into the Navy. Navy was in the need of self-propelled 1000Ton fuel barges, with a view to fuel big ships like INS Vikramadity
Minister of state for defence Subhash Bhamre has assured Hindustan Aeronautics Ltd (HAL) that work load for its Nashik unit will continue to flow even after Su-MKI manufacturing and production activities conclude in the next few years. “HAL has the world class facilities and giv
Naval submarine INS Kalvari was dedicated to the nation by prime minister Narendra Modi on Thursday in Mumbai. INS Kalvari is a diesel-electric attack submarine built by the Mazagon Dock Shipbuilders Ltd for the Indian Navy. As per the plan, five more such submarines would be inducted into
People queued up since early morning to cast their ballot to decide the political fate of 851 candidates in the second and final phase of the bitterly fought Gujarat assembly elections. The votes in all the 182 seats will be counted on December 18. Over 22 million people are eligible to cast
Had the situation not been so desperate, then the AAP government’s proposal to sprinkle water from helicopters would have been considered hare-brained. But, a more practical solution to tackling air pollution may well be around the corner and it lies in the success of a pilot project in Iceland.