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 held ‘Svanidhi Samvaad’ with street vendors from Madhya Pradesh. The Government of India had launched the PM Svanidhi scheme on 1 June 2020 to help poor street vendors impacted by COVID-19 resume livelihood activities.
4.5 lakh street vendors were registered in Madhya Pradesh out of which acceptance has been granted to around 1.4 lakh street vendors of amount worth Rs 140 crore.
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Speaking on the occasion, the Prime Minister praised the efforts of the street vendors to bounce back and appreciated their self-confidence, perseverance and hard work.
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He appreciated the efforts of the Government of Madhya Pradesh for identifying more than 4.5 lakh street vendors and completing the process to give loans to over 1 lakh vendors within 2 months, notwithstanding the effect of the pandemic.
The Prime Minister said any calamity first affects the poor impacting their jobs, food and savings. He referred to the tough times when most of the poor migrants had to return to the villages.
PM Modi said the Government from the first day tried to obliterate the difficulties that the poor and the lower middle class have to face owing to the lockdown and the impact of the pandemic and made all efforts to provide food, ration, free gas cylinders apart from employment through the Prime Minister Garib Kalyan Rojgar Abhiyan.
He said the aim of the Svanidhi Yojana is to provide Swarozgar, Svavlamban and Swabhimaan (Self Employment, Self-Sustenance and Self-Confidence) to the street vendors.
The Prime Minister asked the street vendors to maintain cleanliness and follow all the measures to prevent the spread of COVID-19. This he said would help them increase their business.
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