An MIC leader has referred to international rating agency Moody's upgrading of India's local and foreign currency issuer ratings and changing the outlook of the rating to stable from positive to counter DAP lawmaker Tony Pua.

S Vell Paari said Moody's upgrading of India's rating was due to government reforms, such as the implementation of programmes which included the introduction of GST and direct benefit transfer schemes.

The MIC treasurer-general pointed out that the programmes in India were similar to those introduced by BN under Prime Minister Najib Abdul Razak, such as the GST and direct assistance in the form of BR1M.

“This effort taken by our BN government to manage the economy, similar to what has been done in India, was well received by the rating agencies.

“Therefore, the misleading statements that Pua is spewing about GST and its negative impact on the Malaysian economy is all a load of rubbish,” he added...