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Nirmala Sitharaman Shaktikanta Das India economy Government crisis Nirmala Sitharaman Shaktikanta Das India

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Nirmala Sitharaman Shaktikanta Das India economy Government crisis
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On Friday morning, when the Reserve Bank of India (RBI) governor Shaktikanta Das dealt his sharpest and deepest cut to interest rates, the markets remained rather lukewarm, if not outright cold, to the central bank’s response to the coronavirus crisis.

Coincidentally, the market also slipped on Thursday after finance minister Nirmala Sitharaman announced the government’s relief package.

Happenstance or coordinated policy action, Das shares something else in common with his boss, Ms Sitharaman: both the policy designs seem to have not only missed a beat but also failed to address the right constituencies.

RBI’s deep rate cut, perhaps unprecedented in its scope, also needs to be viewed in the backdrop of Thursday’s fiscal package.

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COVID-19
United States
United States
Cases: 46 252 513
Deaths: 750 423
Recovered: 0
India
India
Cases: 34 321 025
Deaths: 459 652
Recovered: 0
Brazil
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Cases: 21 835 785
Deaths: 608 235
Recovered: 0
United Kingdom
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Cases: 9 215 683
Deaths: 141 607
Recovered: 0
Russia
Russia
Cases: 8 494 589
Deaths: 237 619
Recovered: 0
Detail statistic
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