Cong slams PM Modi for ‘mess of economy’, raises doubts over credit rating Agencies

Agencies
November 25, 2017

New Delhi, Nov 25: The Congress on Friday held Prime Minister Narendra Modi "solely responsible" for creating a "mess" of the economy, after Standard & Poor's kept its sovereign rating for the country unchanged.

Senior Congress leader Anand Sharma said the government was taking shelter under these "dubious" certificates from rating agencies.

Rating agency Moody's had on last Friday raised India's sovereign rating from the lowest investment grade of Baa3 to Baa2 - the first upgrade in almost 14 years.

Sharma accused Modi of being solely responsible for creating a "mess" of the economy and charged him with being in "arrogant denial".

He said that a "sudden flurry" of certificates from credit rating agencies is the "only fall back" of a government which has derailed India's economy.

Sharma alleged that GDP has sharply fallen, jobs have been "destroyed" in millions and business have shut down.

The leader also further raised questions over the ratings agencies waking up when all the parameters of the Indian economy are "in the red".

"About 3.72 crore jobs have been lost in the MSME/unorganised sector. Investment rate has plunged by 7%, credit offtake falling to a 65-year low. This calls into question the very credibility of these rating agencies," he said on the micro-blogging site.

Declining to follow Moody's recent India rating upgrade, Standard & Poor's on Friday kept its sovereign rating for the country unchanged at the lowest investment grade of 'BBB- minus' citing high government debt and low income levels.

Lauding it, defence minister Nirmala Sitharaman said that the rating is a reflection of the agency's appreciation of the steps taken by the government to keep the economy stable and ensure a high growth trajectory.

"The S&P had inferred that over the next two years, growth in India will remain strong and the country will maintain its sound external accounts position," Sitharaman
said.

Union minister Mukhtar Abbas Naqvi lauded it, saying "After Moody's, S&P gives Narendra Modi govt thumbs up, keeps India's outlook stable."

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News Network
November 21,2025

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Udupi: The Malpe Police have arrested two men from Uttar Pradesh for allegedly sharing classified information related to Indian Navy vessels with individuals in Pakistan, posing a serious threat to national security.

According to a complaint filed by the CEO of Udupi Cochin Shipyard, Malpe—an institution under the Union Ministry of Ports, Shipping and Waterways—the prime accused, Rohit (29), was working as an insulator through subcontractor M/S Shushma Marine Pvt Ltd. He had earlier served at Cochin Shipyard Limited in Kochi, Kerala, where naval ships are under construction.

Udupi SP Hariram Shankar said the accused had unlawfully shared, via WhatsApp, confidential identification numbers of Navy-related ships and other classified details while working in Kerala, allegedly for illegal gains.

After joining the Malpe shipyard unit, Rohit reportedly continued collecting sensitive information through a friend in Kochi and circulated it to unauthorised individuals, violating national security protocols and potentially endangering India’s sovereignty, unity, and integrity.

Based on the complaint, Malpe Police registered a case under Section 152 of the Bharatiya Nyaya Sanhita (BNS) and Sections 3 and 5 of the Official Secrets Act, 1923.

A police team led by Karkala Subdivision Assistant Superintendent of Police Harsha Priyamvada—along with PSI Anil Kumar D, ASI Harish, and PC Ravi Jadhav—conducted the investigation and arrested the two accused, identified as Rohit (29) and Santri (37), both residents of Sultanpur district, Uttar Pradesh.

The duo was produced before the court, which remanded them in judicial custody till December 3. Further investigation is in progress.

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News Network
December 4,2025

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Domestic carrier IndiGo has cancelled over 180 flights from three major airports — Mumbai, Delhi and Bengaluru — on Thursday, December 4, as the airline struggles to secure the required crew to operate its flights in the wake of new flight-duty and rest-period norms for pilots.

While the number of cancellations at Mumbai airport stands at 86 (41 arrivals and 45 departures) for the day, at Bengaluru, 73 flights have been cancelled, including 41 arrivals, according to a PTI report that quoted sources.

"IndiGo cancelled over 180 flights on Thursday at three airports-Mumbai, Delhi and Bengaluru," the source told the news agency.

Besides, it had cancelled as many as 33 flights at Delhi airport for Thursday, the source said, adding, "The number of cancellations is expected to be higher by the end of the day."

The Gurugram-based airline's On-Time Performance (OTP) nosedived to 19.7 per cent at six key airports — Delhi, Mumbai, Chennai, Kolkata, Bengaluru and Hyderabad — on December 3, as it struggled to get the required crew to operate its services, down from almost half of December 2, when it was 35 per cent.

"IndiGo has been facing acute crew shortage since the implementation of the second phase of the FDTL (Flight Duty Time Limitations) norms, leading to cancellations and huge delays in its operations across the airports," a source had told PTI on Wednesday.

Chaos continued at several major airports for the third day on Thursday because of the cancellations.

A spokesperson for the Kempegowda International Airport (KIA) in Bengaluru said that 73 IndiGo flights had been cancelled on Thursday.

At least 150 flights were cancelled and dozens of others delayed on Wednesday, airport sources said, leaving thousands of travellers stranded, according to news agency Reuters.

The Directorate General of Civil Aviation (DGCA) has said it is investigating IndiGo flight disruptions and has asked the airline to submit the reasons for the current situation, as well as its plans to reduce flight cancellations and delays.

It may be mentioned here that the pilots' body, Federation of Indian Pilots (FIP), has alleged that IndiGo, despite getting a two-year preparatory window before the full implementation of new flight duty and rest period norms for cockpit crew, "inexplicably" adopted a "hiring freeze".

The FIP said it has urged the safety regulator, the DGCA, not to approve airlines' seasonal flight schedules unless they have adequate staff to operate their services "safely and reliably" in accordance with the New Flight Duty Time Limitations (FDTL) norms.

In a letter to the DGCA late on Wednesday, the FIP urged the DGCA to consider re-evaluating and reallocating slots to other airlines, which have the capacity to operate them without disruption during the peak holiday and fog season if IndiGo continues to "fail in delivering on its commitments to passengers due to its own avoidable staffing shortages."

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News Network
November 21,2025

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An Indian Air Force (IAF) Tejas fighter jet crashed on Friday, November 21, afternoon during its aerial demonstration at the Dubai Air Show, plunging to the ground at around 2:10 pm local time while performing a manoeuvre before thousands of spectators.

The IAF confirmed the incident, stating that a Tejas aircraft participating in the show had crashed and that further details were being gathered. An Air Force spokesperson said more information would be shared after initial assessments.

The crash sent thick black smoke billowing into the sky near the airport, causing panic among visitors, including families and children who had gathered to watch the display. Authorities have not yet confirmed whether the pilot managed to eject before the aircraft went down. Emergency response teams rushed to the scene, and officials have not released information on casualties or damage so far.

The Tejas is a 4.5-generation, multi-role fighter aircraft developed indigenously by Hindustan Aeronautics Limited (HAL). Designed for versatility, it is capable of offensive air support, close combat, ground attack missions and maritime operations. The aircraft family includes single-seat fighters and twin-seat trainers for both the Air Force and Navy.

HAL describes the latest version, the LCA Mk1A, as the most advanced in the series, featuring an AESA radar, an upgraded electronic warfare suite with radar-warning and self-protection jamming, smart multifunction displays, a digital map generator, a combined interrogator–transponder system and a modern radio altimeter. These enhancements significantly improve the aircraft’s combat capability and survivability.

Further updates from IAF and UAE authorities are awaited.

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