Kapil Sibal says Moody’s India rating upgrade is not in sync with 'mood of the people'
Congress leader Kapil Sibal on Saturday said the upgradation of India's rating by US credit rating agency Moody's was not in sync with the 'mood of the people'
New Delhi: Congress leader Kapil Sibal on Saturday said the upgradation of India's rating by US credit rating agency Moody's was not in sync with the "mood of the people".
"Contrast the mood at Moody's with the mood of the people. While you bask under their upgrade, worry about livelihood millions have lost," Sibal said in a tweet.
"Moody talks about sunshine tomorrow. We are worried about the dark clouds today," he said.
US credit rating agency Moody's on Friday upgraded India's sovereign rating to Baa2 from its lowest investment grade of Baa3 after 13 years.
Maintaining that the upgrading was based on New Delhi's "wide-ranging programme of economic and institutional reforms", Moody's simultaneously changed the outlook for the country's rating to stable from positive and upgraded India's local and foreign currency issuer rating to Baa2 from Baa3.
Moody’s Investors Service on Friday upgraded India's sovereign credit rating by a notch to 'Baa2' with a stable outlook citing improved growth prospects driven by economic and institutional reforms.
Moody's India upgrade after 13 years will strengthen our resolve for fiscal discipline: Arun Jaitley
On Moody's upgrading India to Baa2 from Baa3, Jaitley said it is a recognition that India continues to follow path of fiscal prudence
Sensex zooms 414 points to 33,521; Nifty races past 10,300 as Moody's ups India's sovereign rating to Baa2
At BSE, SBI rallied 2.94 percent while private peers ICICI Bank, Axis Bank, Yes Bank and IndusInd Bank soared up to 3.07 percent