The rating agency’s decision is driven by Pakistan’s heightened external vulnerability risk and uncertainty around its ability to secure adequate additional external financing.
It also revised the growth forecast for FY2021 to 8.6% from 8.1%. Moody's attributed the reason behind better growth to the falling of coronavirus cases in India.
The investor service said India's credit profile is increasingly constrained by low growth and high debt burden, which have been exacerbated by the pandemic.
Chief Economic Advisor Krishnamurthy Subramanian statement came after Moody's downgraded India's rating and S&P retained it at the lowest investment grade.
Moody’s said credit flow to the economy already remains severely hampered because of severe liquidity constraints in the bank and non-bank financial sectors.
The decision to opt out of the big RCEP trade deal may eventually have been out of lack of choice, but it is silly to pretend it is a sign of bold leadership.
Despite growing passenger volume, 11 out of 14 carriers reported losses in 2023-24. IndiGo recorded profit of Rs 8,167 crore, which reduced to Rs 7.253 crore in 2024-25.
Of the total package, $649 million will be utilised for additional hardware, software, and support services, and the remaining for Major Defence Equipment (MDE).
None of Pakistan’s PMs has lasted 5 years. That the current PM has given Asim Munir 5 years shows that of all military dictatorships history has seen, Pakistan’s is most creative.
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