Moody's upgrade proves Modi better than Manmohan: That's what ET readers say on social media
ET Online|
Updated: Nov 18, 2017, 05.14 PM IST
A large majority on social media thinks Moody's upgrade of India's rating proves Prime Minister Narendra Modi is better than his predecessor Manmohan Singh in managing the country's economy.
International rating agency Moody’s Investors Service has upgraded India’s sovereign bond rating for the first time in nearly 14 years, endorsing structural reforms undertaken by the Narendra Modi government that it said would boost growth and reduce the debt burden.
Moody's last upgraded India rating during Atal Bihari Vajpayee's term as prime minister. Mamohan Singh was the prime minister for two terms during this gap.
In a Facebook poll run by ET Online, 69% said Modi had been proved to be better than Manmohan Singh after Moody's upgrade. The remaining 31% thought Manmohan made a better prime minister. Nearly 3 lakh people voted in the Facebook poll.
In the same poll on Twitter, 74% found Modi better and only 20% voted for Manmohan, 6% were undecided. Nearly 3,500 people voted in this poll.
The contrast between the two prime ministers is stark. While Manmohan is a top economist and the man who implemented liberalisation of Indian economy as the finance minister under then prime minister PV Narsimha Rao more than two decades ago, Modi is a moderately educated, self-made man who has worked his way up from poverty and is proud of his work as the Gujarat chief minister for close to a decade.
On Twitter
He presents his work there as the 'Gujarat model' of development. Modi pits 'hard work' against 'Harvard', implying that academic expertise in economy is no match for the will to improve things.
Manmohan is an uncharacteristically vocal critic of Modi. The usually reticent former PM had called demonetisation a "monumental mismanagement" and "organised loot and legalised plunder". He predicted demonetisation would shave off two percentage points off GDP in the next quarter, which did happen.
International rating agency Moody’s Investors Service has upgraded India’s sovereign bond rating for the first time in nearly 14 years, endorsing structural reforms undertaken by the Narendra Modi government that it said would boost growth and reduce the debt burden.
Moody's last upgraded India rating during Atal Bihari Vajpayee's term as prime minister. Mamohan Singh was the prime minister for two terms during this gap.
In a Facebook poll run by ET Online, 69% said Modi had been proved to be better than Manmohan Singh after Moody's upgrade. The remaining 31% thought Manmohan made a better prime minister. Nearly 3 lakh people voted in the Facebook poll.
In the same poll on Twitter, 74% found Modi better and only 20% voted for Manmohan, 6% were undecided. Nearly 3,500 people voted in this poll.
The contrast between the two prime ministers is stark. While Manmohan is a top economist and the man who implemented liberalisation of Indian economy as the finance minister under then prime minister PV Narsimha Rao more than two decades ago, Modi is a moderately educated, self-made man who has worked his way up from poverty and is proud of his work as the Gujarat chief minister for close to a decade.
On Twitter
#MoodysIndiaUpgrade | Does #India 's rating upgrade by #Moody 's after 14 yrs mean #Modi is better than #Manmohan ?
— EconomicTimes (@EconomicTimes) November 17, 2017
He presents his work there as the 'Gujarat model' of development. Modi pits 'hard work' against 'Harvard', implying that academic expertise in economy is no match for the will to improve things.
Manmohan is an uncharacteristically vocal critic of Modi. The usually reticent former PM had called demonetisation a "monumental mismanagement" and "organised loot and legalised plunder". He predicted demonetisation would shave off two percentage points off GDP in the next quarter, which did happen.
