Policy balance
The recent appointment of Sanjay Malhotra as Governor of the Reserve Bank of India (RBI), replacing Shaktikanta Das, signals a pivotal shift in India’s monetary policy dynamics.
The Prime Minister’s assurance came at a time when the number of India’s Coronavirus cases have crossed the 25 lakh-mark.
Prime Minister Narendra Modi on Saturday said three Coronavirus vaccines are currently under testing phase in India and their mass production will begin as soon as the scientists give the green signal.
As the world inches closer to a Coronavirus vaccine with many vaccine candidates under final trials, the Prime Minister, speaking from the ramparts of the Red Fort on the occasion of the 74th Independence Day, assured the nation that the fight against the pandemic was progressing in the right direction and at right pace.
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The Prime Minister’s assurance came at a time when the number of India’s Coronavirus cases have crossed the 25 lakh-mark.
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A spike of 65,002 cases and 996 fatalities were reported in the country in the last 24 hours taking the total number of infections to 25,26,193 and death toll to 49,036.
“Not only one or two, there are three Corona vaccines presently under testing phase in India. As soon as the green signal is received from the scientists, the country’s preparation is also ready for their mass production,” PM Modi said in his 90-minute address to the nation.
PM Modi’s announcement came just three days after the first meeting of the National Expert Group on Vaccine Administration for COVID-19, a NITI Aayog panel in which the Union Health Ministry has said that the country would leverage domestic vaccine production capacity.
While reminding that there was only one lab for testing when the Coronavirus first appeared in the country, Prime Minister Modi said now India has more than 1,400 labs.
Addressing the nation on the 74th Independence Day amid the Coronavirus-induced safety norms, PM Modi in his seventh consecutive speech, acknowledged the corona warriors and all those who have succumbed to the viral disease.
“On behalf of the entire nation, I want to thank the efforts of all corona warriors. All those healthcare workers, doctors and nurses, who have worked tirelessly to serve the nation. Many have even lost their lives. The nation salutes them,” PM Modi said in his annual address.
“Corona has stopped everyone. In these times of COVID, Corona warriors have lived the mantra of ‘Seva Parmo Dharma’ and served the people of India. I express my gratitude to them,” he added.
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