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."
On May 23 this year, the ministry of environment issued ‘Rules on prevention of cruelty to animals (regulation of livestock market)’ with the purported aim of regulating animal markets. When one reads the rules – notwithstanding the lame efforts from union ministers to issue clarificati
BEML, a mini ratna category-1 enterprise of the defence ministry, has set a target of using 100 percent renewable energy for its own consumption. In this connection, BEML’s 9 MW Windmill Park installed at Bagalkot District in Karnataka was recently
Bharat Heavy Electricals Limited (BHEL), a Maharatna enterprise, has recorded nearly 14 percent growth in its intellectual capital in 2016-17 fiscal. During the year, a record 508 patents and copyrights were filed by the company, translating into filing of nearly two patents/copyrights
National Aluminium Company Limited (NALCO) has joined hands with the Confederation of Indian Industries (CII), Odisha, to organise outreach programmes for industries and other stakeholders on GST implementation. Series of interactive programmes are being
Taking prime minister Narendra Modi’s vision of ‘Housing for all by 2022’ forward, Employees` Provident Fund Organisation (EPFO) has amended the EPF Scheme, 1952 to provide assistance in acquiring affordable houses to the EPF members by allowing withdrawal from PF to
IndianOil is currently transporting bulk LPG from Mangalore to various LPG bottling plants in north Kerala through about 100 bullet trucks every day, which ply on narrow highways. A pipeline connecting the proposed LPG import terminal to Kochi Refineries Limited and the LPG bottling plants at Udayamperoo