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Inflation is our major challenge in short term: FM

Speaking at the Business Today Best CFO Awards ceremony, Finance Minister Pranab Mukherjee said, "Our major challenge in the short-term is inflation, which has implications for sustaining high growth momentum in the Indian economy. Inflationary pressures persist both from higher global commodity prices and domestic structural demand-supply imbalances in several commodities." (Transcript of Pranab Mukherjee's speech at the event)

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Video: PM Modi welcomes US trade deal, says world is tilting towards India

Prime Minister Narendra Modi on Tuesday hailed the historic India-US trade deal, attributing its success to “sustained patience” and perseverance, while acknowledging that the negotiations had been challenging. Addressing the NDA parliamentary party, Modi said, “The world order is changing, and its trajectory is increasingly tilting towards India.” He emphasised that despite facing criticism, India stood firm and displayed resilience throughout the process. On Monday, US President Donald Trump confirmed that India and the United States had reached an agreement, under which reciprocal tariffs on Indian goods would be reduced from 25 percent to 18 percent.

Watch: PM Modi gets warm welcome at NDA meet for US trade deal breakthrough

Prime Minister Narendra Modi was greeted with applause and accolades at the NDA parliamentary meeting on Tuesday following a landmark trade agreement between India and the US. The meeting, held at the Parliament complex, concluded with alliance MPs congratulating the Prime Minister for securing the deal, which promises immediate tariff relief for Indian exports. Parliamentary Affairs Minister Kiren Rijiju, speaking after the session, welcomed newly elected BJP president Nitin Nabin and noted the visible enthusiasm among MPs over the recent trade developments. Chants of “Jai Modi,” “Vande Mataram,” and “Bharat Mata ki Jai” echoed through the hall as party members praised Modi for the landmark agreement with US President Donald Trump.

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