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.