【新闻来源:湾区信用】 【发布日期:2020-06-05】 【阅读次数:1685】 【打印】

Moody’s downgrades India rating for 1st time in 22 yrs穆迪下调印度信用评级,为22年来首次下调

NEW DELHI: Global ratings agency Moody’s Investors Service on Monday downgraded India’s sovereign rating to the lowest investment grade, saying the country’s policy making institutions would be challenged in enacting and implementing policies which mitigate the risks of a sustained period of low growth, significant further deterioration in the government fiscal position and stress in the financial sector.


The downgrade by Moody’s comes nearly 22 years after it lowered

India’s rating on June 19, 1998 in the aftermath of the country’s

nuclear tests. The lowering of the rating — from Baa2 to Baa3 — brings

it on a par with S&P and Fitch which rate India at BBB (minus), the

lowest investment grade.


The downgrade comes against the deterioration in the country’s growth

prospects as the national lockdown unveiled to stem the spread of the

Covid-19 pandemic has stalled economic activity. This has also choked

revenues, including those from GST prompting the government to raise its

market borrowing sharply which economists say will widen its fiscal

deficit to around 5.5% of gross domestic product. Moody’s action is

likely to put pressure on the rupee, raise borrowing costs and dampen

investor sentiment which is already stretched due to the impact of the

pandemic on all major global economies.


“While today's action is taken in the context of the coronavirus

pandemic, it was not driven by the impact of the pandemic. Rather, the

pandemic amplifies vulnerabilities in India's credit profile that were

present and building prior to the shock, and which motivated the

assignment of a negative outlook last year,” the agency said.


“Slow reform momentum and constrained policy effectiveness have

contributed to a prolonged period of slow growth, compared to India's

potential, that started before the pandemic and that Moody's expects

will continue well beyond it,” Moody’s said.


The agency said GDP growth has declined from a high of 8.3% in fiscal

2016 (ending March 2017) to 4.2% in fiscal 2019 and expects India's GDP

to contract by 4.0% in fiscal 2020 due to the shock from the

coronavirus pandemic and related lockdown measures, followed by 8.7%

growth in fiscal 2021 and closer to 6.0% thereafter.


It said that thereafter and over the longer term, growth rates are

likely to be materially lower than in the past, due to persistent weak

private sector investment, tepid job creation and an impaired financial

system. The agency said that in turn, a prolonged period of slower

growth may dampen the pace of improvements in living standards that

would help support sustained higher investment growth and consumption.



aryan kapoor

I congratulate Modi and his Bhrakts.India has really become 5

trillion dollar economy.Now the next thing he needs to do is convert

India into Somalia



Modi promised $5 trillion or $0.5 Trillion? Now bakths need to clarify.


Abhishek Wagke

We stand with Modi not Moody! Corrupt credit ratings are worth used toilet paper.




When you have a crazy clueless government trying to run the country what else should we expect?


Baba Chacha

Rahul Gandhi would be the best person to lead



Definitely, much better than feku



rahul gandhi for PM



While the Indian economy was fragile even before the pandemic,

covid-19 just aggravated it.The overall situation is a boon to team

Modi, who can now put the blame on an inconspicuous organism.


Gurmail Singh

Feku has ruined the economy. Poor economy will cause massive unemployment; unrest and more crime.


Dutta Pawle

in 22 years. that means congress was doing better since past 16 years if we take away the 6 years of modi government.


Moti Ji

Manmohan said Feku would be disastrous for India. How true. Education matters.


Onkar Sidhu

All Thanks to feku


Stephen Mani

It is a tragedy, but India's economy is now finished. The economy is

now so badly damaged that even if there is a change of Government, it

will take at least 10 years to get back to where we were 10 years ago.


Swami Babaswamyanand

Masterstroke by Modi.



This useless government will spoil india for ever .


Karthik Vijayakumar

how much money bjp invested on times to put all fake news about india doing great. times is an anti indian.


Anwar Ali

They have to publish atleast one news honestly.



Modi proved he can do in 6 years what congress can't do in 60 years.


Ram bhakt

African countries like Kenya, Uganda have better GDP growth (%age growth) for 2019-20 than India.

在2019- 2020财年,肯尼亚、乌干达等非洲国家的GDP增长率都高于印度。


Don't blame corona, credit goes to Modi.


Ayub Khan

In short this report says PM Modi has failed.