Taking on the UPA government over Standard and Poor's threat to downgrade India's ranking, Gujarat Chief Minister Narendra Modi on Tuesday said the government is pushing the country to the brink. "Congress-led UPA's toxic combination of poor economic decisions, lack of reforms and political roadblocks is pushing India to the brink," Modi said.
Standard and Poor's (S&P) in its report released yesterday 'Will India Be The First BRIC Fallen Angel?' said: "Slowing GDP growth and political roadblocks to economic policy making could put India at risk of losing its investment grade rating".
"UPA government has given a nine-year low GDP growth in a quarter. With monsoons deficient till now, where are we heading toward as a nation?" Modi twitted on the social networking site.
Taking a dig at UPA, Modi went on the tweet, "S&P says division of roles between "powerful" Cong president and "appointed" PM has weakened policy making framework and caused political vacuum". He also mocked the rejection of S&P report by Finance Minister Pranab Mukherjee.
There has been generation loss of 84.69 billion units in the country during April 2012 and January 2013 due to coal and gas shortages, poor quality ...
Decision on cutting oil output to be taken at Opec meeting today