Moody's report dismissed, govt calls it opinion of a junior

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."

Comments

 

Other News

3% of medicines are of poor quality: Survey

 More than three percent of medicines in India are ‘Not of Standard Quality’ (NSQ) and 0.0245 percent spurious, reveals a survey report on drugs quality by the ministry of health.  The survey carried out by National Institute of Biologicals (NIB), Noida found that out of the

BEL unveils new weapon system for MBT Arjun tank

 Bharat electronics limited (BEL) has launched a new weapon control system — Remote Controlled Weapon Station (RCWS) / Air Defence Weapon Station (ADWS) for 12.7 mm gun of MBT Arjun Mk II battle tank during recently concluded Aero India 2017 in Bengaluru. The new weapon control system

Sasikala camp in talks with OPS faction

 The Sasikala camp is in talks with the O Panneerselvam (OPS) faction and they are trying to win them over, says an AIADMK insider. Negotiation have started between the main AIADMK, which is with Sasikala, and the splinter group that is supporting former chief minister OPS. The party insider

Stories to read over the weekend

On October 1 last year, Mehtab Alam Ansari, 30, who worked as a tailor in Delhi, had arrived in his village, Chepa Khurd in Barkagaon tehsil of Harazibagh district, to celebrate Eid with his family. That morning, he was nearing Dadi Kalan, a neighbouring village, to meet an acquaintance when he hea

ONGC to invest of Rs 7,327 cr for five projects

  State run enterprise oil and natural gas corporation limited (ONGC) has decided to invest Rs 7,327 crore to develop five projects to produce oil and gas. The decision was taken in its 290th board meeting held on February 23. The projects include development of R-Series fields, incl

Shiv Sena may again ally with BJP

The civic election results could well have long term implications in Maharashtra’s politics, with the Bharatiya Janata Party (BJP) doing dramatically well and the Shiv Sena failing to get a simple majority.   The Shiv Sena won 84 seats, while the BJP bagged 82 seats. Th

Video

Digital Transformation Summit

Current Issue

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter