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.
India has become the fifth worst coronavirus-hit country in the world, with 2,46,628 cases on Sunday. The death toll due to the pandemic has reached 6,929 according to ministry of health. The country’s tally of COVID-19 patients has surpassed that of Spain. Out of this 1,20,406 cases are active and 1,19,292 cases have been cured.
Maharashtra continues to remain the worst affected state in terms of total confirmed cases at 82,968, active cases, recoveries and deaths at 2,969.
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However, The Indian Express reports, India’s case fatality ratio (CFR, number of deaths per 100 cases) still remains low, 2.8 per cent. Globally, the CFR is 5.8 per cent. In the US, it is 5.7 per cent, in Brazil it is 5.5 per cent, and in Russia it is 1.2 per cent.
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For the last three days, between 9,000 and 10,000 new cases are being detected.
Globally over 6,700,000 people have been infected with the virus with the death at 394,875 according to Johns Hopkins University. Only the US, Brazil, Russia and the UK have more cases than India. Spain, a COVID-19 epicentre weeks ago, has 2,40,978 cases.
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