Moody's has rated Modi's handling of India's economy step above junk: Rahul Gandhi
New Delhi: Congress leader Rahul Gandhi on Tuesday voiced concern over the state of India's economy, saying global rating agency Moody's has termed its handling by Prime Minister Narendra Modi "a step above junk".
He said lack of support to the poor and small and medium industry indicates that the worst is yet to come.
"Moody's has rated Modi's handling of India's economy a step above JUNK. Lack of support to the poor and the MSME sector means the worst is yet to come," he said on Twitter.
Moody's Investors Service has downgraded India's sovereign credit rating for the first time in more than two decades, saying policymakers will be challenged to mitigate risks of low growth, deteriorating fiscal position and financial sector stress.
Downgrading India's rating by a notch to 'Baa3' from 'Baa2' assigned in November 2018, Moody's on Monday estimated India GDP shrinking by 4 per cent -- first full fiscal contraction in more than four decades, as the country faces a prolonged period of slower growth.
'Baa3' rating is the lowest investment grade -- just a notch above 'junk' status. Moody's had last downgraded India's rating in 1998.
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BJP has history of ‘contradictory alliances’, says BK Hariprasad
Bengaluru: Congress MLC B. K. Hariprasad has launched a sharp attack on the BJP, accusing the party of hypocrisy over its criticism of alliance politics in Tamil Nadu.
In a post on X on Friday, Hariprasad said BJP leader B. L. Santhosh criticising the Congress party’s alliance politics in Tamil Nadu was “not just laughable, but the height of political contradiction.”
He said the Congress has always joined hands with like-minded parties to protect secular and democratic values in the country.
Hariprasad questioned the BJP over several of its past and present alliances across the country. Referring to Jammu and Kashmir, Punjab, Tripura, Bihar and Maharashtra, he accused the BJP of sharing power with parties it had earlier criticised.
He alleged that the BJP had aligned with separatist and corruption-linked political forces in different states for political gains.
“The BJP, which speaks against alliances today, should first look at its own political history,” he said, adding that the party’s record was full of “contradictions and changing stands.”
Hariprasad also accused the BJP of using central agencies such as the Enforcement Directorate, Income Tax Department and CBI as political tools to target opposition leaders, topple governments and influence electoral mandates.
He further claimed that the people of Tamil Nadu had strongly rejected the BJP and its ideology in the recent election.
“Congress forms alliances to protect the Constitution, secularism and national unity, while the BJP enters into alliances only for power,” he said.
