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Akhilesh targets BJP over Moody's cutting India's credit rating outlook

"Actually, under the failed BJP government, agriculture and farmers are dying, as are the product and services sectors," he said

Press Trust of India  |  Lucknow 

SP President Akhilesh Yadav has dissolved the party’s state executive and sacked all office bearers, barring UP unit President Naresh Uttam Patel	Photo: PTI
SP President Akhilesh Yadav

Attacking the BJP, Samajwadi Party supremo on Sunday said Moody's Investors Service cut India's credit rating outlook from stable to negative as it expected that in future too economic growth will be less and risk will rise more.

"Moody's Investors Service has cut India's credit rating outlook from stable to negative as it expected that in the future too, economic growth will be less and risk will increase," Akhilesh said in a tweet in Hindi.

"Actually, under the failed BJP government, agriculture and farmers are dying, as are the product and services sectors," he added.

Moody's had said that the outlook partly reflected government and policy ineffectiveness in addressing economic weakness, which led to an increase in debt burden which is already at high levels.

India's economy grew by 5 per cent between April and June, its weakest pace since 2013, as consumer demand and government spending slowed amid global trade frictions, it added.

First Published: Sun, November 10 2019. 13:44 IST
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