Narendra Damodardas Modi (born 17 September 1950) is an Indian politician serving as the 14th and current Prime Minister of India since 2014. He was the Chief Minister of Gujarat from 2001 to 2014 and is the Member of Parliament for Varanasi. Modi is a member of the Bharatiya Janata Party (BJP) and of the Rashtriya Swayamsevak Sangh (RSS), a Hindu nationalist volunteer organisation. He is the first prime minister outside of the Indian National Congress to win two consecutive terms with a full majority and the second to complete five years in office after Atal Bihari Vajpayee.
₹20 trillion package: What does it mean for stock markets?
Indian equity markets rallied in early trade on Wednesday as the size of the economic stimulus package announced by Prime Minister Narendra Modi is significantly higher than the Street's expectations.
The package of ₹20 trillion, which accounts for 10% of India’s GDP, includes the fiscal and monetary support extended by the finance ministry and Reserve Bank of India earlier.
So, what does the package mean for the markets? Analysts said details of the package and actual execution of it are far from certain, but the broader intent is positive.
They widely believe that the package may have a combination of direct monetary and fiscal stimulus and contingent liabilities.
United States
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Cases: 46 252 513
Deaths: 750 423
Recovered: 0
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India
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Cases: 34 321 025
Deaths: 459 652
Recovered: 0
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Brazil
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Cases: 21 835 785
Deaths: 608 235
Recovered: 0
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United Kingdom
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Cases: 9 215 683
Deaths: 141 607
Recovered: 0
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Russia
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Cases: 8 494 589
Deaths: 237 619
Recovered: 0
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