In a report released on Friday by the State Bank of India, it has been claimed that by December 2021, 113.2 crore doses of corona vaccine would have been given to the people. While 15 percent of the country's people will have been given both doses of the corona vaccine, it will be possible to get the first dose of the vaccine to about 84 percent of the people. It is estimated that in the third week of May the peak of the second wave of corona may be revealed.
The report estimated that the cost of applying the corona vaccine to the entire country could be close to about 0.1 percent of the GDP of the entire country, while the loss may be much higher if the corona is decided to lock down in the country. Can. So far, 0.7 percent of GDP is estimated to be lost due to partial or complete lockdown in many parts of the country.
However, even after this, the economy is projected to grow by 10.4 percent of GDP. Similar estimates have been made by other top economic agencies in the world.
According to the SBI report, the second wave of Spanish flu had more deaths than the first wave. It is speculated that the second wave of corona may also be more deadly than the first wave. Therefore, to reduce its effect, it has been recommended to pursue a large-scale vaccination program.
It is estimated that so far around 90 crore people across the world have got the Corona vaccine installed. But in this vaccination program, there has been a huge amount of vaccination in the top 15 countries of the world (84% of total vaccine consumption), while the campaign is far behind in poor countries. That is, in the vaccination program, the difference between richness and poverty is emerging very clearly.
So far, only 2.6 percent of the world's population has been able to take advantage of vaccination. Only 1.2 percent of people in India have been given the benefit of the vaccine so far. In many states, people's reluctance to vaccinate is still becoming a major obstacle to make it available to all.
How many populations to vaccinate
It is estimated that by July 2021, the Serum Institute of India will be able to produce 11 million corona vaccines per month. By July, India Biotech will be able to produce 12 million doses per month. Russia's import of the Sputnik vaccine will also start in May.
It is estimated that due to the availability of all these vaccines, 113.2 crore doses of corona vaccine will be given to the countrymen by December 2021. Due to this vaccine consumption, it will be possible to give both the vaccine dose to 15% of the people of the country and the first dose of vaccine to 84% of the population.
How much damage to the country
The report estimated that the amount of money the country would have to spend in applying the vaccine would be much less than the losses incurred due to the lockdown. It is estimated that the total cost of 0.1% of the economy combined with the prices fixed by the states and the free vaccine given by the central government, while the lockdown is imposed, could result in a huge loss to the economy. So far, 0.7% of GDP has been lost due to partial or complete lockdown in different parts of the country.
Estimated for the increase in GDP
Due to the second severe wave of Corona, the lockdown has been imposed in many parts of the country, while full lockdown has been imposed at some places. But even then, most agencies predict that India will still be able to achieve double-digit growth in FY 2021-22. SBI has projected a 10.4 percent increase in the country's GDP in its report. However, earlier reports had estimated growth rates much higher than this.
It is estimated that the highest level of corona may be revealed by the third week of May. In the second wave, serious estimates have been made of increasing corona infection in urban areas as well as rural areas.
Expect to increase money deposited in banks
There are also signs of the weakening of the economy in many areas as Corona infection increases. The mobile phone market is also expected to witness some slowdown. During this period, there has also been an increase in deposits in banks. It is estimated that partial lockdown will reduce opportunities for people to spend money. Due to this, a significant increase in the amount of deposits with banks can be recorded.
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