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.
Amid the nationwide lockdown, thousands of daily wagers and other migrants have undertaken epic journeys to reach home — walking, cycling and hitching rides when they could — in the absence of any public transport.The unprecedented move to stem the spread of COVID-19 triggered possibly the biggest movement of people since Partition. Several migrant workers have lost their lives in road accidents while travelling back to their homes.
As Prime Minister Narendra Modi led Central government finished a year in office, to mark the first anniversary of the second term, he has written a letter to the nation on Saturday, saying that said last year decisions and changes by his government have given new momentum to India’s development journey. He also acknowledged that migrant workers, labourers and others had “undergone tremendous suffering” during the Coronavirus crisis.
“In this crisis, no one can claim that nobody has been put to trouble or inconvenience. Our workers, migrant brother and sister labourers, those working in small industries, cart pushers and vendors, our shopkeeper brothers and sisters and those having small businesses have suffered immensely. We all are working together in an attempt to sort out their problems,” said PM Modi in his letter to the citizens.
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“But we have to be careful that these inconveniences should not transform into a crisis of life,” he added while addressing the migrant crisis that hit the nation amid the coronavirus outbreak. Amid the nationwide lockdown, thousands of daily wagers and other migrants have undertaken epic journeys to reach home — walking, cycling and hitching rides when they could — in the absence of any public transport.The unprecedented move to stem the spread of COVID-19 triggered possibly the biggest movement of people since Partition. Several migrant workers have lost their lives in road accidents while travelling back to their homes.
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While giving out the reason for writing the letter amid the lockdown Modi said, “The global coronavirus pandemic have led me to write this letter and seek your blessings. In the past one year, your affection, blessings and active participation have given me fresh energy and inspiration.”
“During this period, you have shown to the world democracy’s collective strength, which has become an example before the entire world,” he added.
The PM acknowledged that India still have many problems and a lot needs to be done. He said, ” I know there is so much left to be done. The country has many challenges and problems before it. I am making all efforts day and night. I may have some deficiency, but the country does not have any.”
He said that as India has surprised the world with its unity and resolve to fight the COVID-19 pandemic, that it will also the same example to revive the economy which is going through one of the biggest economic downturn.
“130 crore Indians can not only surprise the world but can also inspire it,” said PM Modi.
Prime Minister also urged people to keep following all the rules and guidelines during the Coronavirus lockdown. “We have to move forward with the same patience and courage that we shown so far. This is the reason why the situation in India has so far been manageable in comparison with other countries,” he said in the letter.
“This battle will stretch on, but we are on way to victory and, to be victorious is our common resolve,” is the positive hope PM Modi gave to the nation.
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