New Delhi: The Congress Party in a paranoid mode as Assembly elections in five states near. If it proposed a ban on opinion polls yesterday, today it hit out at investment bank Goldman Sachs for predicting strong economic growth if the NDA sweeps into office next year. The investment bank defended its report.
Commerce Minister Anand Sharma said, "This is not exasperation, you are wrong. Can they tell our voters what to do."
An angry Commerce Minister hits out at rating agency Goldman Sachs for predicting good times for the Indian economy in the wake of trends which indicate a victory for the BJP-led NDA in 2014.
In its report titled Modi-fying our view the investment firm upgraded India's rating from underweight to market-weight. The report also said that equity investors tend to view the BJP as business friendly and its prime ministerial candidate Narendra Modi as an agent of change.
Congress General Secretary Digvijaya Singh said, "I think Goldman Sachs should do its job and not get into politics."
BJP leader Mukhtar Abbas Naqvi hit out at the Congress saying, "I advise Congress not to be so angry. That will only spoil their health."
The party may be most worried worried about what Goldman Sachs says their report is based on market sentiment and views of investors.
Timothy Moe, Chief Asia Pacific Strategist for Goldman Sachs, said, "What we are observing and this is the case in terms of how the market is trading and also the very large number of investors we speak to both externally as well as domestically is that Modi is viewed as nation of change. The market has been trading or reflecting various opinion polls and has been responding to those."
Economist Arvind Virmani says there are two views among investors - one for an early election irrespective of the outcome and the other which is based on opinion polls reflected by mainstream media.
In the last few weeks several poll surveys including those carried out by Network18 have predicted that the NDA would do better than the UPA. Perhaps this is why the congress is now determined to counter any argument or survey which gives importance to the Modi factor.
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