Moody’s upgrade, no doubt, will come as great relief to the Modi government (Editorial – “Timely recognition”, November 18). However, before going overboard about the rating, one needs to ask a few questions: whose interests have rating agencies such as Moody’s traditionally served? Are they bothered about the pattern of jobless growth? Do they care about who bears the brunt of “ease of doing business”? Is there a place in their metric for the mounting economic inequality in the country and the social tensions and conflicts it can engender?
Manohar Alembath,
Kannur, Kerala
The upgradation of India’s sovereign ratingis definitely a shot in the arm for the government, Moreover, a higher GDP growth rate forecast would do a world of good to India’s economy.
While accolades pour in from around the world in appreciation of the government’s firm actions such as GST and demonetisation, the Opposition is only showing that it is on a weak footing by even calling reports of independent agencies as “fixed”. It shows the frustration that has crept in. There will be short-term sacrifices for long-term good. The period of policy paralysis under the previous political dispensation is still fresh in our minds.
Ajit K. Menon,
Mangaluru
