Citing reforms that lift growth, Moody's upgrades India first time since 2004
Global credit rating agency Moody's Investors Services on Friday upgraded India's sovereign ratings to Baa2 from its lowest investment grade Baa3, citing the NDA government's 'wide-ranging program of economic and institutional reforms' among the reasons for the move.
Border: India, China hold talks
More than two months after the Doklam border stand-off was resolved following mutual withdrawal, India and China on Friday held their first meeting on the border consultation and coordination mechanism in Beijing. The two sides reviewed the situation in all the sectors of their border and exchanged views on enhancing CBMs and militiary contacts.
A Step Up
The global credit rating agency Moody's Investors Service, recently raised the sovereign credit rating of India from Baa3 to Baa2 terming its outlook for the company from 'positive' to 'stable'. This boost came after a span of 13 years- during this period India earned a cumulative foreign direct investment flow of around $250 billion and a new portfolio investment of more than $ 225 billion into the stock and the debt markets. Also, it is during this period that the country grew from $6620 billion to $2.3 trillion economic status. The question that arises at this point is the long time period which the credit rating agency took for upgrading the Indian economy. Considering the current economic stature of India where the last 4-5 months haven't been much good, the upgrade would boost the economic factors to work at their best and the economy to develop. The economic upgrade has helped in restoring calmness and stability just when the investors, especially in bonds were panicking. With the due upgrade, India should try to stay on the steady course of macroeconomic stability. The country should focus on the macro-stability and structural reforms which would earn gains for the economy in the long term. This would ensure the country running in a smooth stable condition.
Own the Crisis
National capital Delhi has been under a thick blanket of hazardous 'smog' where breathing has become much difficult and the average concentration of hazardous particulate matter rising to an alarming level. In such a time, it is the irony of Delhi to point fingers at Haryana and Punjab for their stubble burning activities as a reason for the pollution. Delhi itself has contributed much to the pollution crisis. with the huge number of polluting factories, diesel vehicles, thermal power plants and huge amounts of dust from the construction sites add to the crisis. On top of that, there arose a continuous political blame game over the pollution with different leaders and groups blaming one another over their inefficiency of controlling the situation. This is not a solution to the problem- Delhi needs to work efficiently to tackle it rather than the blame game.