PM Narendra Modi to unveil top 10 policy priorities today
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Prime Minister Narendra Modi is expected to unveil his top 10 policy priorities today, seeking to unblock an investment logjam and setting deadlines for action in order to revive the economy.
A top aide flagged the action points ahead of a cabinet meeting at which Modi will begin the task of meeting the aspirations of voters who handed Bharatiya Janata Party (BJP) the strongest electoral mandate in India in 30 years.
"The entire machinery will be geared up to fulfil the mandate of the new leader," Nripendra Misra, newly named as principal private secretary in the Prime Minister's Office, told The Hindu in an interview.
Misra said that Modi's policy priorities will "necessarily have to be implemented in a time-bound manner". They would focus on overcoming delays to major infrastructure projects and addressing why India has become a coal importer, he added.
Media report last week had said that Modi was considering restructuring Coal India, the mining behemoth, in a bid to halt a decline in output.
The Prime Minister's Office is expected to become a powerful centre of policy making under Modi, who has named loyalists such as Arun Jaitley to key posts like finance but whose cabinet team lacks strength in depth.
Modi was due to chair a cabinet meeting at 11 am, his office said, with a briefing to follow afterwards.
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Shiv Sena (UBT) chief Uddhav Thackeray on Wednesday hit out the BJP, saying that by inducting former Congress leader Ashok Chavan, the ruling party has also become a part of the multi-crore Adarsh Housing Society scam now. Earlier, the BJP used to target Chavan saying the families of martyrs were fooled in the Adarsh scam, but now the same party is involved in fooling them, he alleged.
Thackeray was addressing a press conference at Nanded in Maharashtra, where he arrived to campaign for the Maha Vikas Aghadi (MVA) candidate Vasant Chavan from the Nanded Lok Sabha constituency.
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Jamie Dimon, the chief executive of US banking giant JPMorgan Chase, has praised Prime Minister Narendra Modi and berated the “liberal press” for criticising him.
Dimon, in a webinar hosted by The Economic Club of New York, praised Modi's government for alleviating poverty and implementing reforms. “Modi has done an unbelievable job in India. I know the liberal press here; they beat the hell out of him. “He has taken 400 million people out of poverty," Dimon was quoted as saying.
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The Reserve Bank of India (RBI) on Wednesday released a compiled master direction raising the minimum capital requirement for asset reconstruction companies (ARCs) to begin securitization to Rs 300 crore from Rs 100 crore as on October 11, 2022.
The central bank said that the regulation would be effective from April 24, 2024. ARCs, as on October 11, 2022, have been provided a glide path to achieve the minimum required Net Owned Fund (NOF) of Rs 300 crore.
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Reliance Jio has become the world's largest mobile operator in data traffic consumption, surpassing China Mobile. According to global analytics firm Tefficient, the Indian telecom operator's total traffic reached 40.9 exabytes in the January-March quarter, compared to China Mobile's 38.
Jio also has the second-largest 5G subscriber base globally, with 108 million users. More than 28 per cent of its total wireless data traffic is now consumed by 5G users, said the company in an analyst presentation.
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Congress leader Rahul Gandhi on Wednesday accused Prime Minister Narendra Modi of waiving off loans worth Rs 16 trillion of his billionaire friends, and said the country will never forgive him for this "crime".
In a post in Hindi on X, he said this money could have been used to cure the pain of Indians but was spent on creating hype for the ilk of those like 'Adanis'.
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