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Why Modi is at No.9 in the list of most powerful people on earth; Indian economy speaks for him

India’s economy speaks for prime minister Narendra Modi. Just look at the fiscal deficit figures. Now, Modi is the new hope for an open world

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Indeed, it’s good news for Indian prime minister Narendra Modi, when the assembly election for Karnataka, a south Indian state under the rule of Indian National Congress, is at the corner. Forbes magazine has included Narendra Modi in the list of world’s most powerful people this year. Modi has secured a commendable spot at nine in the top ten list, just behind Saudi Arabia’s crown prince Mohammed Bin Salman.

According to Forbes magazine, the list is topped by Chinese supremo Xi Jinping followed by Russian president Vladimir Putin and US president Donald Trump. German chancellor Angela Merkel comes at fourth spot followed by US billionaire Jeff Bezos.

It should be noted that for the last four years India’s fiscal deficit has been less than 1 per cent of GDP

When it comes to India, Modi’s elevation to the top ten is something to celebrate as he still remains a controversial leader for many so-called intellectuals, both in India and outside.

Why Modi matters

Forbes magazine observes that Modi has raised himself as a global leader, playing a profound role in combating climate change and global warming.  The top rank needs to be seen as recognition for Modi as he has taken some risky moves to change India’s economic scenario since he attained power in May 2014.

Image/narendramodi.in

Modi has succeeded in establishing himself as a global leader challenging China’s Xi Jinping in Asia with his diplomatic masterstrokes and bold policies.  In an article appeared on Forbes website, its contributor Salvatore Babones state that India’s tremendous achievement in balancing the fiscal deficit gives Modi an edge in the upcoming general elections.

According to him India is going to achieve a fiscal deficit under .2 per cent of GDP (Gross Domestic Product) in 2017-2018 fiscal year. It should be noted that for the last four years India’s fiscal deficit has been less than 1 per cent of GDP.

The economy has recovered at a tremendous pace, marking India again the fastest growing major economy in the world

Now, most of the international financial organisations are upbeat about Indian economy, putting the financial figures for the second most populous country on earth in an ambitious manner. Indian economy has witnessed some structural changes in the past four years of Modi government including the biggest tax reform, GST (Goods and Services Tax). Even though this resulted in a temporary slowdown, the economy has recovered at a tremendous pace, marking India again the fastest growing major economy in the world.

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SBI waives off outstanding loans of 23 CRPF soldiers

SBI has taken steps to immediately release Rs 30 lakh to the Pulwama martyrs’ kin

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Image: SBI Facebook page

State Bank of India (SBI) has announced a noble initiative for the families of the CRPF soldiers who martyred in a dastardly terrorist attack in Pulwama, Jammu & Kashmir on February 14, 2019.

India’s largest lender will waive off all the outstanding loans of 23 soldiers who availed loans from the bank with immediate effect, said SBI in a statement.

As all the CRPF soldiers were customers of the Bank under Defence Salary Package, the Bank provides insurance of Rs 30 lakh to each of the defence personnel. According to the officials, the Bank is taking necessary steps to accelerate the release of insurance money to the next of kin of the martyred soldiers.

“It is extremely upsetting and disturbing to witness the loss of lives of the soldiers who always stand for the safety of our motherland. In this moment of grief, our sincere thoughts are with the families of our brave hearts,” said Rajnish Kumar, Chairman, SBI.

 

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Modi thinks India could become the second largest economy by 2030

Currently India is the fastest growing major economy in the world

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Indian Prime Minister Narendra Modi. Image/PIB

Indian Prime Minister Narendra Modi thinks India will become the second largest economy by 2030, surpassing the US. He was upbeat about India’s spectacular growth while inaugurating the hydrocarbon conference at India Expo Centre, Greater Noida, in Uttar Pradesh on Monday.

Currently, India is the fastest growing major economy in the world. The Prime Minister is of the opinion that it could become the second largest economy by 2030 and the third largest energy consuming country in the world.

As India’s growth is happening at a tremendous pace, the demand for energy is also increasing, at an annual growth rate of 5 per cent, and that makes India an attractive market for multinational energy companies. According to some estimates India’s energy requirement is expected to more than double by 2040.

As per the report of Standard Chartered, these are expected to be the 10 largest economies in the world by 2030.

  1. China
  1. India
  1. US
  1. Indonesia
  1. Turkey
  1. Brazil
  1. Egypt
  1. Russia
  1. Japan
  1. Germany

 

 

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Why Tata is India’s most valuable brand

According to Brand Finance, Tata is the only Indian brand among the Top 100 brands in the world

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N.Chandrasekaran, Chairman, Tata Sons. Image: www.tcs.com

Good news! Indian business conglomerate Tata group has entered into the list of Top-100 brands in the world.

According to the Brand Finance Global 500 2019 report, the value of Tata brand rose by 37% percent from last year, and it has reached $19.5 billion.

Tata was at rank 104 in the previous year, and climbed to rank 86 in the new report. According to a statement issued by the company, Tata is the only Indian brand in the premiere league of 100 companies.

Tata companies which include Tata Consultancy Services, Tata Motors and Tata Steel have improved their performances and it reflected in the brand ranking, as per the statement of Brand Finance.

“TATA has always been synonymous with trust and leadership and these brand attributes are even more important to all our stakeholders today. This recognition of the strength of our brand will encourage us to drive our businesses in a socially responsible manner globally while continuing to strive for excellence through innovation and entrepreneurship,” N Chandrasekaran, chairman, Tata Sons, said in a press statement.

The chief executive officer of Brand Finance, David Haigh, made it clear that Tata Group’s brand value is primarily the reflection of the outstanding performance by Tata Consultancy Services (TCS), the IT behemoth of India which has an impressive brand rating of AAA.

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