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.
Prime Minister Narendra Modi has donated Rs 2.25 lakh from his own pocket as the initial corpus to the PM CARES fund launched to gain funds to tackle the Covid menace.
The declaration comes from the Prime Minister’s Office itself.
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PM Modi donated Rs 2.25 lakh towards the initial corpus of PM CARES Fund after it was set up,” a PMO official quoted as saying by NDTV, on condition of anonymity.
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“PM Modi has a long legacy of contributing to public causes ranging from girl child education to work on cleaning the Ganga to welfare of the underprivileged. These donations have now exceeded Rs 103 crore,” he said.
Mentioning some previous donations made by the Prime Minister, official said after receiving the Seoul Peace Prize in South Korea, PM Modi donated the entire prize money of Rs 1.3 crore for work on cleaning the Ganga. He donated another Rs 3.40 crore fetched in an auction of his mementoes to the river-cleaning mission, PMO officials said.
Rs 8.35 crore raised in an auction of gifts PM Modi had received in 2015 also went to the Namame Ganga Mission, the officials added.
The PM CARES fund came under the attack of the opposition Congress which alleged foul-play in the setup of the fund and its need as there was already a similar Prime Minister’s National Relief Fund (PMNRF).
The first audit report of the PM CARES fund came out yesterday and revealed that the fund received Rs 3,076 crore in just five days.
The PM CARES Fund has Prime Minister as its Chairman while the Home, Defence and Finance Ministers are its ex-officio trustees.
The Fund was created on March 27 by the Prime Minister Narendra Modi to deal with emergency situations like coronavirus. It attracted a huge amount of money from donors belonging to Bollywood, politics and common people.
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