Sourabh Sharma

The Central Vista project that has been targeted to be completed before the Lok Sabha elections 2024 seems like a heartless and artless decision of the central government. The project includes the construction of a new Parliament building, new residences for the PM and the Vice President of the nation whereas the IGNCA and National Archives Annexe will be demolished and there doesn't seem to be a plan on how their collections will be conserved. It can be a challenging task in ordinary times as well. A new Parliament building is indeed required but it is less about the need and more about grandeur, the government has even banned photography of the construction as well. Last week 76 scholars put a spotlight on it and said it is a matter of planning and expertise but the government is only looking for a show-off. The government will lose nothing if they suspend the project amid a pandemic and take the opposition and public into confidence on the future course in calmer times.

The RBI has swung into action last Wednesday to fight against the whirlwind caused by the 2nd wave of Covid-19. The Central Bank came up to lend Rs 50,000 crore with tenure up to 3 years at the repo rate of 4% which will help the healthcare sector in which the major beneficiaries will be pharmaceutical manufacturers, diagnostic sector, and vaccine makers, the diagnostic chain can use this opportunity to lessen the crisis in Tier-2  cities. The aftermath of the governor Mr. Shaktikanta Das boosted up the share market as well, Sensex and Niffty closed with an increase of 424 and 121 points respectively. He also mentioned that RBI will conduct an SLTRO of Rs 10,000 crore with SFBs at repo rate, which will help individuals, small business, and MSME's as they will be eligible for restructuring which will be open up to 30 September and must be implemented within 90 days, also the SFB's will now be able to provide loan to MFI's under the asset size of Rs 500 crore.