Narendra Modi win unlikely to boost growth: Moody's

  • PTI, Mumbai
  • |
  • Updated: Feb 26, 2014 16:37 IST

Though downside risks to the economy have receded in recent months, it is likely that the growth engine will continue to sputter until 2015 even if "business-friendly" Narendra Modi becomes prime minister, says a report by rating agency Moody's analytical arm.

"The May elections offer the chance for better governance, especially if the business-friendly Narendra Modi becomes prime minister, but it will be a long road for the economy...as there is little on the horizon to lift the economy in 2014," Moody's Analytics said in a report titled, 'India Underwhelms.'     

It senior economist Glenn Levine cited weakness in the real economy as the reason for his pessimism, with third-quarter GDP figures likely to show the economy growing at about 4.8 per cent.

In pictures: Narendra Modi's various headgears

Read: Khurshid won't apologise for calling Modi impotent

 

also read

Odisha, Bengal to get heavy rains as Cyclone Komen weakens

blog comments powered by Disqus