New Delhi: Government today dismissed a recent report quoted to Moody's Analytics which had asked Prime Minister Narendra Modi to keep his party members “in check or risk losing domestic and global credibility, saying that it was the personal opinion of a junior analyst.
Blaming the media, governemt said that the report was passed off as a commentary on India by a rating agency “by the media to buttress the narrative it wants to portray” despite being a a personal opinion of a Junior Associate Economist.
”It is with regret the Government of India notes the irresponsible and distorted reporting by certain sections of the Indian media on what was the personal opinion of a Junior Associate Economist employed with Moody's Analytics,” an official release said.
The release said, “It is surprising that sections of the Indian media failed to make a distinction between Moody's Analytics which is merely a data and analytics firm and Moody's Investor Services, which provides ratings services.
”It is also surprising that no due diligence was done and the readers were not informed about the difference between Moody's Analytics and Moody's Investor Services.
”Opinion of a Junior Associate Economist employed with Moody's Analytics has been splashed all across implying it as the opinion of Moody's Analytics.”
The report titled ‘Dismal Scientist - India outlook: Searching for Potential' by its analyst Faraz Syed came on Friday in the name of Moody's Analytics.
The release said, “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.
“While Modi has largely distanced himself from the nationalist gibes, 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,” the report had said.
The report not only blamed the government for failing to deliver on the promised reforms but also raised questions over its ability to deliver on them going forward.
“Overall, it's unclear whether India can deliver the promised reforms and hit its growth potential. Undoubtedly, numerous political outcomes will dictate the extent of success,” said the report.
