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 Government has issued an order revising the State Disaster Response Fund (SDRF) assistance norms to provide for grant of ex-gratia payment to the next of kin of those who died due to Covid-19.
The order dated 25th September last was issued so as to implement the guidelines issued by the National Disaster Management Authority (NDMA) on 11th September in compliance with an order passed by the Supreme Court.
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The Government’s decision will facilitate State Governments to have enough funds in their SDRF.
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Union Minister of Home Affairs and Cooperation Amit Shah has, meanwhile, approved the release of the 2nd instalment of the Central share of the SDRF amounting to Rs 7,274.40 crore, in advance, for 23 States.
Five States have already been released the 2nd instalment amounting to Rs 1,599.20 crore.
The State Governments will now have an amount of Rs 23,186.40 crore in their SDRF, including the States’ share, during 2021-22, in addition to the amount of opening balance available in their SDRF, to meet the expenses for granting ex-gratia to the next of kin of the deceased due to Covid-19, and for providing relief on other notified calamities.
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