Now Moody's doubts India's preparedness for hosting CommonWealth Games

NEW DELHI: After Commonwealth Games Federation chief Michael Fennell, Moody's on Thursday raised doubts about the preparedness of India to host the mega sports event next year, saying the economic downturn and drought may have impacted various projects.

"India hosts the 2010 Commonwealth Games, but its preparation has been slower than desired. Although the event is only a year away, construction of some venues is still incomplete," Moody's Economy.com, the research arm of global rating agency Moody's, said in a statement.

"The global economic turmoil may have taken a toll on India's preparations," it added.

Explaining further, the firm said delay in constructions may have been due to relocation of funds to meet the need of areas crucial for sustaining social stability, battered by the economic downturn.

"The drought has further complicated policy making, putting social spending a clear priority over enhancing the appeal of New Delhi. Liquidity and capital constraints have crippled firms of all sizes over the past two years," it said.

Fennell, had earlier warned India that delays in its preparations for the 2010 Games are putting the success of the event in jeopardy. He had also written to Prime Minister Manmohan Singh seeking his intervention in putting things in order.

However, Delhi Chief Minister Shiela Dixit had said her government will not let the Commonwealth games to suffer.