‘Opinion of junior analyst’: Govt dismisses Moody’s warning to PM

Government on Wednesday dismissed a recent report attributed to Moody’s Analytics, saying it was the personal opinion of a junior analyst which was passed off as a commentary on India “by the media to buttress the narrative it wants to portray”.

Government on Wednesday dismissed a recent report attributed to Moody’s Analytics, saying it was the personal opinion of a junior analyst which was passed off as a commentary on India “by the media to buttress the narrative it wants to portray”.

File photo of Prime Minister Narendra Modi addressing an election rally in Bihar.(PTI)

The report, which had came out on Friday, said that Prime Minister Narendra Modi must keep BJP members in check or risk “losing domestic and global credibility”.

Reacting to the comment, an official release on Wednesday said, “It is with regret the Government of India notes the irresponsible and distorted reporting by certain sections of the Indian media on what was the personal opinion of a Junior Associate Economist employed with Moody’s Analytics.”

“It is surprising that sections of the Indian media failed to make a distinction between Moody’s Analytics which is merely a data and analytics firm and Moody’s Investor Services, which provides ratings services,” said the release.

“It is also surprising that no due diligence was done and the readers were not informed about the difference between Moody’s Analytics and Moody’s Investor Services.

Read | Moody’s warns Modi: Rein in BJP members or risk losing credibility

The release said, “Opinion of a Junior Associate Economist employed with Moody’s Analytics has been splashed all across implying it as the opinion of Moody’s Analytics.”

The report titled ‘Dismal Scientist - India outlook: Searching for Potential’ by its analyst Faraz Syed came on Friday in the name of Moody’s Analytics.

The release said, “Government notes with distress that the personal opinion of a junior analyst was passed off as a commentary on India by a rating agency by the media to buttress the narrative it wants to portray.”

The report had pointed to the Prime Minister’s silence on “ethnic tensions” associated with the lynching of a Muslim man in Uttar Pradesh on the suspicion of cow slaughter and a spate of murder of rationalists.

“Modi has largely distanced himself from the nationalist jibes…” but his government has not helped itself with controversial comments from BJP members, it said in first comments by a major global institution over bubbling political controversies in India.

“Modi must keep his members in check or risk losing domestic and global credibility,” added the report.

(With inputs from PTI)