The government had on Wednesday issued a statement dismissing report of Moody's Analytics.
The 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.
Moody's Analytics said that the reduced political stability and the need for consensus building that is inherent with a coalition government, might erode investor confidence in the near term.
Govt to strongly pitch for better rating, to argue India has successfully weathered its problems and govt capacity on growth remains high.
The land acquisition bill is a catalyst to investment and passing the bill will improve India's business environment.
India's political infighting is denting business confidence.
Externally, the global economy is stabilising, with better growth is expected this year.
The outlook for India's rating would improve if fiscal, inflation and infrastructure metrics get better, a global report said.
The official GDP data for the September quarter will be released on Friday.
'Modi must keep his members in check or risk losing domestic and global credibility,' Moody's warned.
The note was authored by Faraz Syed, an associate economist with Moody's Analytics.
Oil and LNG prices are likely to shoot up if Iran is to block Strait of Hormuz, through which countries like India import crude oil from Saudi Arabia, Iraq and UAE, leading to a spike in inflation, analysts said on the Iran-Israel conflict. The Iran and Israel conflict has escalated over the last few days. Iran first launched drone and rocket attacks on Israel, which retaliated by firing a missile. Crude oil prices have hovered around USD 90 per barrel since the conflict.
Gold, which was hovering around $1,321 an ounce in January 2019, has already breached $1,600 per ounce in the past few sessions to a seven-year high.
Microsoft saw its shares fall 2.6% on Monday.
The 30-share Sensex ended 271 points higher to end at 28,930 and the 50-share Nifty climbed 76 points to close at 8,776.
The finance minister said the government was open to suggestions.
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