Fed’s Caution
The US Federal Reserve’s decision to lower its benchmark interest rate to a range of 4.25-4.50 per cent marks a turning point in its monetary policy.
US President Joe Biden on Monday conveyed his condolences over the Morbi bridge collapse incident in Gujarat. Biden asserted that US will continue to stand and support the Indian people.
President took to his official Twitter handle and wrote, “Jill and I send our deepest condolences to the families who lost loved ones during the bridge collapse in India, and join the people of Gujarat in mourning the loss of too many lives cut short. In this difficult hour, we will continue to stand with and support the Indian people.”
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Jill and I send our deepest condolences to the families who lost loved ones during the bridge collapse in India, and join the people of Gujarat in mourning the loss of too many lives cut short. In this difficult hour, we will continue to stand with and support the Indian people.
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— President Biden (@POTUS) October 31, 2022
At least 130 people were killed, and several were injured after a cable bridge collapsed in the Machchhu river in Gujarat’s Morbi district on Sunday evening. The cable bridge was restarted five days ago after renovation.
The more than a-century-old bridge, which had restarted five days back after extensive repairs and renovation, was jammed with people when it collapsed on Sunday evening.
US Vice President Kamala Harris also expressed her condolences on the tragedy and wrote, “We stand with the people of India who are mourning the victims of the devastating bridge collapse in Gujarat. Our hearts are with those who lost loved ones and all those impacted.”
We stand with the people of India who are mourning the victims of the devastating bridge collapse in Gujarat. Our hearts are with those who lost loved ones and all those impacted.
— Vice President Kamala Harris (@VP) October 31, 2022
Prime Minister Narendra Modi, who is set to visit Morbi today has announced an ex-gratia of ₹ 2 lakh from the Prime Minister’s National Relief Fund (PMNRF) for the families of each of the deceased and ₹ 50,000 to each of the injured.
The Gujarat government has also announced a compensation of ₹ 4 lakh for the kin of the deceased and ₹ 50,000 for the injured.
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