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During whose term as Prime Minister of India was Moody's rating for the country downgraded?

  • Indira Gandhi

  • Rajiv Gandhi

  • P.V. Narasimha Rao

  • Chandra Shekhar

Answer

During Chandra Shekhar's brief tenure as Prime Minister of India from November 1990 to June 1991, the country faced a severe economic crisis. Moody's, a global credit rating agency, downgraded India's sovereign debt rating to Baa3, citing concerns about the country's high fiscal deficit, external debt burden, and precarious foreign exchange reserves. This downgrade increased the cost of borrowing for India in international markets and further destabilized the economy.
Chandra Shekhar: Behind the Legacy - Test Your Knowledge about India's 8th Prime Minister

Chandra Shekhar: Behind the Legacy - Test Your Knowledge about India's 8th Prime Minister

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