The announcement will be made after the board's meeting.
"During the two-day meeting between Rashtriya Swayamsevak Sangh (RSS) and Bharatiya Janata Party that ended on Monday, a decision had been made to appoint Modi as its prime ministerial candidate," CNN-IBN reported quoting sources.
Even Modi's powerful rivals in the BJP like LK Advani and Sushma Swaraj also supported the decision.
The stocks of Modi only went up further after the Economic Times in an opinion poll of the country's top business leaders found that he is the man most wanted as the PM of India.
The 'ET CEO Confidence Survey' said they all want Modi as PM. Rahul Gandhi is way behind with just 7pc backing him, according to the leading business daily of India.
Modi is the BJP's national election campaign chief.
--IBNS (Posted on 10-09-2013)