Blow to India: Moody’s cuts India’s credit rating outlook to negative

Agencies
November 8, 2019

New Delhi, Nov 8: Moody's Investors Service has changed the outlook on India's ratings to 'negative' from 'stable', saying there was increasing risks that economic growth will remain materially lower than the past.

It affirmed the Baa2 foreign-currency and local-currency long-term issuer ratings for India.

"Moody's decision to change the outlook to negative reflects increasing risks that economic growth will remain materially lower than in the past, partly reflecting lower government and policy effectiveness at addressing long-standing economic and institutional weaknesses than Moody's had previously estimated, leading to a gradual rise in the debt burden from already high levels," the rating agency said in a statement.

While government measures to support the economy should help to reduce the depth and duration of India's growth slowdown, prolonged financial stress among rural households, weak job creation, and, more recently, a credit crunch among non-bank financial institutions (NBFIs), have increased the probability of a more entrenched slowdown, it said.

"Moreover, the prospects of further reforms that would support business investment and growth at high levels, and significantly broaden the narrow tax base, have diminished," it said.

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News Network
January 6,2020

Hyderabad, Jan 6: AIMIM president Asaduddin Owaisi on Monday expressed solidarity with students of Jawaharlal Nehru University in Delhi, following violence in the campus and said the "cruel attack" was meant to "punish"the students as they "dared to stand up".

"In solidarity with the brave students of JNU. This cruel attack is meant to 'punish' JNU students because they dared to stand up. It's so bad that even Union Ministers are tweeting helplessly. Modi Sarkar must answer why cops aresiding with goons," the Hyderabad MP tweeted.

The AIMIM has also tweeted expressing solidarity with the "students of JNU". "AIMIM stands in solidarity with the students of Jawaharlal Nehru University. Who feels threatened by the voice of students?," the party said in a tweet.

Violence broke out at the JNU on Sunday night as masked men armed with sticks and rods attacked students and teachers and damaged property on the campus, prompting the administration to call in police which conducted a flag march.

At least 28 people, including JNU Students' Union president Aishe Ghosh, were injured as chaos reigned on the campus for nearly two hours.

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Agencies
July 30,2020

New Delhi, Jul 30: India witnessed a single-day spike of 52,123 COVID-19 cases as the total cases in the country reached 15,83,792, the Union Ministry of Health and Family Welfare said on Thursday.

The total cases include 5,28,242 active cases and 10,20,582 cured/discharged cases, the Health Ministry added.

A total of 775 deaths were reported in the last 24 hours taking the death toll to 34,968.

Maharashtra continues to be the worst-affected state as it reported 9,211 new COVID-19 cases 298 deaths on Wednesday. The total number of cases is now at 4,00,651 including 2,39,755 recovered cases, 1,46,129 active cases and 14,463 deaths.

The total number of cases in Tamil Nadu reached 2,34,114.

Delhi reported 1,035 COVID-19 cases yesterday, taking the total number of cases in the national capital to 1,32,275.

The total number of COVID-19 samples tested up to July 29 is 1,81,90,382 including 4,46,642 samples tested yesterday, said the Indian Council of Medical Research (ICMR).

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Agencies
June 27,2020

Mumbai, Jun 27: The Shiv Sena on Saturday hit out at the BJP over its charge that the Rajiv Gandhi Foundation (RGF) had accepted donations from the Chinese embassy, and asked it whether the issue had any connection with intrusion by the neighbouring country in Ladakh and the martyrdom of 20 Indian soldiers.

The Sena also alleged that those raising questions against the government over the standoff with China were being labelled as Chinese agents by the BJP.

BJP chief J P Nadda had on Thursday targeted the Congress and the Gandhi family saying that the RGF had allegedly accepted donations from the Chinese embassy. Hitting back, the Congress had said that the RGF issue raised by the BJP government was a "manufactured charge" and "diversionary tactic" to deflect attention from the LAC crisis.

"What do you mean by Congress gets money from China? Instead of responding to the issues raised by Sonia Gandhi and Rahul Gandhi over the Chinese incursions, the BJP leaders accused the Congress of receiving funds from China," the Sena said in an editorial in party mouthpiece 'Saamana'.

"Will BJP's revelations about the donations stop the Chinese activities along the border? The BJP should tell what connection does these donations have with the Chinese incursion and the martyrdom of 20 soldiers," it added.

"In our country, many political leaders and parties, and not just the Congress, are beneficiaries of foreign countries. The BJP speaking about this is like throwing stones in the mud," it said.

The Uddhav Thackeray-led party said that Chinese President Xi Jinping visited India twice in the last six years.

"He was hosted in Gujarat. But it is a fact that China has betrayed. Holding talks on the one hand and continuing with the offensive along the border on the other hand is China's old policy," it said.

In the present scenario, the entire country stands firmly with PM Modi. This crisis is not for the BJP or the Congress, but for the entire country, whose prestige is at stake, it said.

"The BJP can fight with the Congress any time later.

But now is the time to fight against China. It should speak on that," the Sena said.

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