Moody's point to utter failure of UPA Government in economic front
Sonia Joshi
Aug. 9, 2012

Confidence among Indian firms has been crushed by weak demand, elevated interest rates, high inflation and most significantly, the instability created by a weak central government that has badly lost its way, says Glenn Levine, senior economist at Moody's Analytics.

"There has been little policy response from either the Reserve Bank of India or the government and with the global uncertainty dragging on, we see nothing on the horizon to lift the economy from its funk," he continued.

Moody's Analytics said in its report that the prime minister has one final opportunity to salvage his legacy. "With two years left in office, Prime Minister Manmohan Singh must turn things around quickly or risk becoming a lame duck for the remainder of his term, leaving behind a legacy of missed opportunity," Levine said.

Moody's point to utter failure of UPA Government in economic front
Sonia Joshi
There has been little policy response from either the Reserve Bank of India or the government and with the global uncertainty dragging on, we see nothing on the horizon to lift the economy from its funk,
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