But the Indian Prime Minister faces a grueling election campaign next year while questions arise about his handling of a weakened economy in recent months.
The Indian economy rose in the first half of 2018, having recovered much of the previous year from a tax overhaul and a shock decision by Modi to ban most of the country's money.
GDP data for the last quarter of 2018 are expected in February and could consider Modi's appeal to voters as he seeks a second term as Prime Minister.
The currency will continue to weaken next year due to political uncertainties surrounding the elections and concerns about India's independence, the central bank, Capital Economics analysts recently wrote.
. Turbulence at the top bank
The darkest cloud in India The economic horizon concerns the central bank, the Reserve Bank of India.
The government has reportedly urged the bank to do more to boost pre-election growth, and analysts told CNN that Patel was likely "unable to withstand" this pressure.
Modi did not waste time replacing Patel. He appointed Shaktikanta Das, a former government official, as his successor barely 24 hours later.
The & # 39; hasty The convocation and its government balance sheet have raised concerns that the central bank's autonomy may be jeopardized.
His appointment "is likely to keep investors and markets worried about RBI independence, given their close ties with the government," said Priyanka Kishore, senior economist at Oxford Economics.
Kishore and other analysts predict the central bank. If interest rates have been raised twice in 2018 and have remained constant since then, they will decrease in 2019.
What happens next?
Many of the reforms proposed by Modi, especially with regard to India's land acquisition and labor laws, have not yet materialized.
Next year's elections could give a different picture.
"An election victory for Prime Minister Modi could provide room for revitalizing his reform agenda after a lackluster 2018," said Shilan Shah, senior Indian economist at Capital Economics.
Modes may seek to reduce bureaucracy and further open India to foreign investment, Shah said. Another push to privatize state-owned companies is likely.
What happens in the polls will have a big impact on India's economic health.
"The election is likely to turn out to be a turning point for the economy," Shah said.