Sometime back, Moody's investor services gave unwarranted advice that the PM should rein in the Hindutva elements in his cabinet lest they damage the foreign investment coming in to the nation.
That the analysis report was made by a person belonging to a minority community is a fact too significant to be dismissed as a coincidence.
And now, Moody’s has once again released a report warning India that lack of economic reforms will hurt foreign investment coming in to India.
Moody’s is entirely justified in passing judgement on the economic policies of our country. But we need not be wary of it for the firm seems to be making judgments which are more in the best interests of American firms rather than India.
It seems to be resorting to subtle blackmail tactics for an adverse report by that firm would normally have governments doing everything to get back in its good books.
We need not do the same! Let us take economic decisions in the best interests of the nation and not that of Moody’s.
Let us not be pressurized by their fancy ratings. Unfortunately, the opposite seems to be happening as even leading publications such as the ‘Times of India ‘are quoting Moody’s analysis as a basis, even as they urge the government to toe a certain line of action.
