And now it appears it is the turn of Moody’s, the sovereign rating company, to caution the Narendra Modi government — that it risks “losing domestic and global credibility” if it doesn’t rein in BJP m
And now it appears it is the turn of Moody’s, the sovereign rating company, to caution the Narendra Modi government — that it risks “losing domestic and global credibility” if it doesn’t rein in BJP members who make controversial comments leading to “ethnic tensions”.
The advice comes in a recent report entitled “India Outlook: Searching for Potential” presented by Moody Analytics, which prepares briefs for the branch of the company that carries out the rating function. Investors, domestic and foreign, take note of rating agencies.
The Prime Minister himself and some of his senior Cabinet colleagues, including finance minister Arun Jaitley, have thus far taken a cavalier view of protests by prominent sections of civil society at Hindutva elements provoking the murder of prominent rationalists and intellectuals, and subsequently a poor Muslim villager at Dadri on the trumped up charge of storing beef in his house, and the government’s failure to take appropriate action, thus allowing an atmosphere of “rising intolerance” to build up in the country in the furtherance of a broad Hindutva agenda.
When Sahitya Akademi and Sangeet Natak Akademi award winners returned their prizes, Mr Jaitley called it a “paper rebellion”, implying that the protesters had no real cause and were merely out to get the Modi government for reasons of ideological animus. This led to historians, scientists and leading academics from all parts of India to raise their voice. Padma award winners also returned their honours. The finance minister smirked some more and spoke of a “manufactured revolt”.
As this unhappy situation unfolded, the Prime Minister observed that the various incidents had occurred in different states and the Centre bore no responsibility. He urged ordinary Hindus and Muslims to fight poverty and not one another, as though ordinary folk were attacking one another. Many found this to be an inaccurate and simplistic reading since the provocation in all the cases in question came from Hindutva diehards, many of whom enjoyed prominent positions in the ruling party, including MPs, and the Union government. Union home minister Rajnath Singh also tersely noted that law and order was a state subject.
The chain of events led President Pranab Mukherjee to articulate his anguish three times in less than a week. But his sage counsel left the government unimpressed. It is to be seen if Moody’s will have better luck. This organisation — which promotes the Prime Minister’s reform agenda — can hardly be accused of targeting the Modi regime for ideological reasons.
Moody’s Analytics have spoken of “belligerent provocation of various Indian minorities”, which can only harden the attitude of the “obstructionist” Opposition in the Rajya Sabha where the government does not have a majority and cannot get reform measures through. For the government, it is time to act.
