Moody's made India's rating negative

New Delhi, November 8, 2019, Friday

Credit rating agency Moody's Investors Service made a drastic change in India's rating in view of India's declining economic situation and declared the Indian economic situation as negative from the stable.

Moody's confirmed the BAA 2 rating and expressed the opinion that a very slow economy is at risk. Under these circumstances economic growth will be less than in the past. Debt will rise and we will have to endure long economic recession.

It is noteworthy that the present Narendra Modi government is committed to achieving the target of 5 trillion by 2025 and while seeking to increase GDP growth, rating agencies around the world are reducing India's GDP growth estimates.

Last month, Moody's also reduced its GDP growth to 5.8 percent in the current financial year. Earlier, the GDP growth was 6.2. Moody's hoped the figure would rise to seven percent in the coming years.