India's sovereign credit ratings do not reflect the economy's fundamentals, the Economic Survey said on Friday and nudged the global agencies to become more transparent and less subjective in their ratings. The Economic Survey 2020-21, tabled in Parliament, said that sovereign credit ratings methodology must be amended to reflect economies' ability and willingness to pay their debt obligations, and suggested that developing economies must come together to address this bias and subjectivity inherent in sovereign credit ratings methodology. "Never in the history of sovereign credit ratings has the fifth largest economy in the world been rated as the lowest rung of the investment-grade (BBB-/Baa3). While sovereign credit ratings do not reflect the Indian economy's fundamentals, noisy, opaque and biased credit ratings damage FPI flows," the survey said.
Maharashtra has "no future" under the Congress-Nationalist Congress Party coalition government as it is controlled by corrupt politicians, Anna Hazare said on Friday.
Anna Hazare on Friday said that Maharashtra had "no future" under the current Congress-Nationalist Congress Party coalition government, because it was controlled by corrupt politicians.
While India remains low in terms of control over corruption, scoring -0.21 points according to the World Bank's Control of Corruption Index, the UN report, "Tackling Corruption Transforming Lives," highlights several positive examples in India of the media and civil society exposing corruption.
The Modi government's record on governance is better than that of UPA-2, but not better than UPA-1, observes T N Ninan.
'There appears to be no relation between a government with a majority and GDP growth as the stock market and its analysts seem to fear.'
Most mainstream researchers agree that good governance is a necessary condition for growth.
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