NARENDRA MODI

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• 'Indian economy making new records when several economies are struggling': PM Modi at RBI’s 90th anniversary ceremony

  The RBI, established in 1935, operates as the country's central bank as per the recommendations of the Hilton Young Commission and governed by the Reserve Bank of India Act, 1934. Over the years, the RBI's responsibilities have expanded to include monetary management, financial system regulation, foreign exchange management, currency issuance, payment system oversight, and developmental functions.

  

• PM Modi speaks on electoral bonds, says 'those dancing over bond details will repent it'

  Addressing questions about whether the revelation of electoral bond details posed a setback for the ruling BJP, PM Modi told Thanthi TV during an interview, "Tell me what have we done that I should see it as a setback? I firmly believe that those dancing over it (bond details) and taking pride in it are going to repent."

  

• "Just the trailer.." PM Modi heaps praises on the RBI for transforming India in the last 10 years

  Prime Minister Modi praised the Reserve Bank of India's pivotal role in transforming the banking sector and the economy over the past decade at the central bank's 90th anniversary event in Mumbai. He highlighted the significant progress from previous challenges, emphasizing clear policies and decisions contributing to the sector's revival.

  

• India can grow at 9% by implementing a few more reforms: Arvind Panagariya

  The 16th Finance Commission chairman attributed India's progress to Prime Minister Narendra Modi's efforts in creating a conducive environment for businesses, leading to increased investments.

  

• Northeast among biggest gainers of GST, says Finance Minister Sitharaman

  Speaking at the Indian Institute of Technology in Guwahati, Sitharaman said the compounded annual growth rate (CAGR) of GST revenue of the north-eastern states has been 27.5% since its introduction in 2017-18. This was way above the CAGR of 14.8% under the earlier indirect tax regime. Elevated tax mop up has enabled these states to spend more on development programmes, she added.

  

• Fitch revises India FY24, FY25 GDP forecast upwards, expects economy to continue 'strong expansion'

  Fitch Ratings revised India's GDP growth forecast upwards for FY24 to 7.8% and for FY25 to 7.0%, citing strong economic expansion driven by domestic demand, particularly investment. Meanwhile, it downgraded China's 2024 forecast to 4.5%, attributing it to property sector challenges and deflationary pressures, despite increased fiscal support.

  

• India's economy expansion now a flashback of the mid-2000s' boom cycle

  Morgan Stanley's report suggests India's current economic surge resembles the mid-2000s, foreseeing a continuing investment-driven cycle. Noting high investment-to-GDP ratios, it projects a rise to 36% by FY27. Urban demand surpassing rural, reminiscent of the 2003-07 cycle, is expected to continue. India's global market share in goods and services, particularly in exports, mirrors growth seen in the mid-2000s.

  

• First chip from Dholera plant by 2026 end: PSMC chairman Frank Huang

  Frank Huang, chairman of PSMC, told ET that the first semiconductor chip from the new plant being set up by the Tata Group and Taiwan’s Powerchip Semiconductor Manufacturing Corporation (PSMC) in Gujarat’s Dholera, will be ready to roll out by the end of 2026.

  

• India-UK trade talks set to end with key issues unresolved

  The latest round of trade talks between the UK and India appears set to end without a breakthrough. Negotiations for a free-trade agreement, seen as a key prize of Brexit, have been plagued by disputes over visas, market access, and more. Indian negotiators don’t have sufficient time to engage on the pending issues ahead of elections likely in April, two people familiar with the development said, refusing to be identified as the discussions are private. That means the 14th round of talks is likely to close without further discussions.

  

• Need international cooperation to deal with AI, crypto challenges, says PM Modi

  Prime Minister Narendra Modi emphasized the need for inclusive, smart, clean, transparent, and green governments at the World Govt Summit in Dubai. He called for global cooperation on AI and cryptocurrency, highlighting ease of living, justice, mobility, innovation, and business. Modi stressed the balance between national sovereignty and international interdependence, addressing terrorism and climate change.

  

• Ended curse of incremental thinking, India to work at superspeed: PM Modi at ET Now GBS 2024

  PM Modi highlighted the increasing trust and positive sentiment towards India in international forums, such as Davos. He mentioned that a virtuous cycle has begun in India, with economic growth rising, fiscal deficit shrinking, exports increasing, and poverty decreasing. "New Bharat will work at superspeed - this is Modi's guarantee," he said.