Why Modi has Failed India, NDTV.com

Last week, the respected US rating agency Moody’s downgraded India’s sovereign rating to Baa3, the lowest grade. It thereby joined Standard and Poor and Fitch, which had already relegated India to the bottom rung in this regard. Explaining their decision, Moody’s said: ‘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 pr...