In a 35-minute address to the Indian diaspora, the prime minister said that his government was not afraid of taking "big" and "tough" decisions in the interest of the country.
The outcome is beyond the market's expectation and will be a sentimental boost, say analysts.
'Modi's advent has made the mass of Indians realise that there was absolutely nothing wrong or objectionable in proclaiming nationalism as the masthead of the polity and Hinduism as its centerpiece,' says B S Raghavan, the distinguished civil servant.
'Mulayam has by design cornered the people's attention back to the party and Akhilesh.' 'People were only talking of Modi and demonetisation, but now suddenly everybody is talking of Akhilesh and the SP.' 'My personal subjective impression is that the SP is neck and neck with the BJP.'
A number of Congress leaders across the country have gone against the party's stand in Parliament on abrogation of the provisions of Article 370 of the Constitution in Jammu and Kashmir by supporting the Centre's move and a bill to bifurcate the state. The Congress has strongly opposed the move and the bill to bifurcate the state of Jammu and Kashmir into two Union territories.
The resignation is sure to create more political firestorms for the government as it comes on the eve of the winter session of Parliament where the Opposition has already made it clear to the treasury benches that infringing on the RBI autonomy would be a big talking point for them.
Asserting that the government has launched a "crusade" against corruption and black money by demonetisation, Prime Minister Narendra Modi on Tuesday sought opposition's cooperation while his rivals called the decision ill-prepared and hasty, causing "economic chaos".
Despite all of the PM's many strengths, it is increasingly clear that he does not necessarily have a coherent and clear worldview on matters of macro policy.
Sources later said differences between the two parties have been resolved.
'Modi has lost a great opportunity to show himself to be a leader, mentor and path-setter, capable of rising above narrow party interests,', says B S Raghavan, the distringuished civil servant.
For Prime Minister Narendra Modi to dig up the perceived past of the DMK rival, now under a new leader in M K Stalin, may not gel with the voters, both old and new. If they are still going to vote for the AIADMK-BJP combine, it will be for entirely different reasons, and despite Modi's poll speeches, says N Sathiya Moorthy.
Jaitley began his speech by saying that today is the auspicious day of Basant Panjami and that "spring is the season of optimism".
The two leaders heaped praise upon each other for effectively implementing prohibition in their states, reports M I Khan from Patna.
With its gaze steadily fixed on the well-being of its people, the government is going about taking all the imperative measures that need to be taken to beat back the pandemic, observes B S Raghavan.
Rahul reiterated that there was massive corruption in the Rafale deal.
Mumbai Congress chief Sanjay Nirupam, who was supposed to lead a 'silent' morcha of his party workers at the Bandra Kurla Complex in Mumbai, the venue of Prime Minister Narendra Modi's public meeting, on Saturday claimed that he has been placed under "house arrest" by police.
'Perhaps GST was too complex a system for the Indian economy at its present stage of development,' argues T N Ninan.
Budget 2018 bears imprints of a government unsure of second term with clear majority, says Shekhar Gupta.
'I can easily say that BJP should not have joined hands with PDP in Jammu and Kashmir. If you are totally against terrorism, then you have to be sincere in that'
'Good economics isn't necessarily bad politics, or vice versa,' says Shekhar Gupta.
'I am sceptical of the Indian economy returning to a sustained high-growth trajectory any time soon'
'While Kejriwal has lost his credibility due to his failure in Delhi, Captain Amarinder Singh is dancing on the tune of his image managers.'
With the opposition accusing BJP of working toward polarising voters in Uttar Pradesh by broaching the issues like alleged migration of Hindus and 'triple talaq', party president Amit Shah has rejected the charges, claiming that questioning politics of appeasement and casteism being practised in the state cannot be called polarisation.
Unless each attack drone can be neutralised, India will be literally deploying elephants to stamp out ants -- and the ants may still survive! points out N Sathiya Moorthy.
'Being a Delhi girl, I challenge you to fight the last two phases on the issues of demonetisation, GST, women security and the false promises you made to the people of the country'
Addressing a 'nukkad sabha' in favour of Congress nominee Rakesh Sachan in Fatehpur, the Congress general secretary in-charge of eastern Uttar Pradesh said, "The issue of patriotism is raised whenever elections come, but the real questions on farmers, unemployed, women safety are left behind."
The U-turn comes after PM Modi praised Nitish Kumar for his prohibition drive in the state.
'If development, investment, employment, implementation, credibility and commitment are ensured, security will automatically improve and subversive and militant elements will lose ground and be neutralised by the people themselves,' says B S Raghavan, the distinguished civil servant.
The BSP extended outside support to the Congress to form governments in these two states as it had failed to reach majority on its own.
'Modi is likely to make more announcements to win or retain popularity, and put himself at the centre of things even more than now,' says T N Ninan.
The Congress leaders maintained that such propaganda against the party would not work and the truth shall prevail.
The results will be seen as a virtual referendum on Prime Minister Narendra Modi's popularity after his demonetisation decision.
'Vajpayee was predictable in his ways.' 'Modi is a schemer, possessed of a shrewdness that can be rewarding in the chaotic world of politics.' 'His political journey gives reason to believe that 2019 will be another milestone in his private project,' notes Vikram Johri.
She also accused the Union government of making "false claims" about crop insurance benefits to the farmers, even as the state government was bearing 80 per cent of the cost.
Stalin has given due respect to seniority in the pecking order, but has also taken into consideration the demands of individual ministries and the suitability of individuals, observes N Sathiya Moorthy.
'The next general election is four years away. That's enough time to recover -- provided the government stops spending and taxing so much,' says T C A Srinivasa-Raghavan.
In his first address to the nation, on the eve of 71st Independence Day, President Ram Nath Kovind hailed the government's demonetisation and GST decision.
The only other legislative action was the approval of the Supplementary Demands for Grants.
Protests by central labour unions and widespread criticism from Opposition parties because of job losses on account of demonetisation and the GST have put the contentious labour reform proposals in the slow lane.
Moody's expect RBI to hold policy 'repo' rate steady to have a neutral stance in this growth
