Hubris Hurt; Global Health; Revise Rate
Opinion Watch
Hubris Hurt
Karnataka verdict is a vote against hubris and complacency, opined several dailies in their respective Editorials, blaming gaps in governance for the loss of the Bharatiya Janata Party (BJP). The Asian Age underlined that distractions such as politics of polarization failed to bridge the gap in good governance.
The Pioneer delved at the micro level to turn spotlight on gaping holes in the social engineering of the BJP, as leading lights of Lingayata community were forced out of the party. The Asian Age has listed out challenge for the BJP to stand the temptation to undermine the popular mandate.
Karnataka verdict is a rude wakeup call for the BJP, which had seriously begun thinking to rule the country unopposed for next 40 years. A week is a long time in politics, a leading UK politician had said, and Karnataka verdict has revealed that the base of the BJP’s edifice is too brittle.
Global Health
The G7 heads of the states will brainstorm over the weekend over the challenges posed by the global pandemic, and The Economic Times has urged upon the wealthiest nations to examine their roles in the prevalent vaccine inequity during the Covid-19 pandemic.
The daily listed out that the wealthiest nations, which make for G7, were found wanting in addressing the needs of the developing and the poor countries during the global pandemic. The business daily argued that the G7 should prepare for the next global health emergencies with plan of action in place which ensures equitable access to the critical tools for all.
The daily has expressed wishful thinking that the wealthiest nations indeed worry about the wellbeing of the people in the poor and the developing countries. The fact of the matter is that the wealthiest nations carry imperial exploitative character and they have least contributions in addressing some of the global challenges such as climate change, poverty, food shortage and hunger.
Revise Rate
The Reserve Bank of India will meet in the first week of June to take a fresh look at the macro-economic indicators for the policy rate projections ahead, and The Indian Express has said in its Editorial that the inflation, including core inflation, has entered into a certain decline slope to give enough comfort to the central bank.
The Noida-based daily has also argued that the bumper Rabi harvest despite unseasonal rains and hailstorms is also set to help the inflation stay below five per cent, which is lesser than even the projection of the RBI. The daily suggested that the growth may be given a priority by the RBI in its policy rate actions by end of the year.
India is projected to achieve 6.5 per cent GDP growth, which is way below what the country should be aiming for, and the RBI should not wait for the year-end but positively surprise by cutting the Repo Rate, which currently is too high at 6.5 per cent, hurting the people and the economy badly.
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