Modi or Moody's, Who Will You Trust On Indian Economic Growth?

So what if Moody's downgraded India's rating, Modi still thinks Indian economy is growing. As per Moody's, India's real GDP growth is likely to contract by 4% due to the COVID-19 impact. In fact Moody's rating of India is the lowest rating in investment grade. To top it, the negative outlook stays.

Yet, Prime Minister Narendra Modi refuses to see this or admit the fact that Indian economy is sinking. No it doesn't stop here. The PM even went on to claim that his government protected the economy that was heading towards a disaster.

But even a lay man knows that Modi's words are far from the truth. His second term has been anything but shining on the economic front.

The growth of real GDP has plunged to an all-time low while the jobless rate in India has touched a record high of 8.5 (October). If these dismal numbers are not indicative of India's poor economy what is?

Due to the global financial crisis, investments and exports, India's two key drivers have dipped.

"India's Great Slowdown: What Happened? What's the Way Out?", a paper published by Center for International Development at Harvard University vouches for this fact.

While the Modi government claims to have come up with policies to boost the economy, the results are not evident at all. So sometimes, even when an Opposition party leader like Rahul Gandhi questions the PM or finance minister Nirmala Sitharaman on the sagging economy, it does carry some weightage.

The question now is who will you trust on the state of Indian economy right now? Moody's or Modi?