Tag: vaccination

Today (9th September 2021) the Finance Ministry said that economic recovery, which was impacted during the second wave, will see faster revival in the next three quarters of the current financial year, even if the third wave hits the country. It is said that this confidence is mainly due to a rapid surge in the inoculation drive and a rebound in leading macroeconomic indicators. “Rapidly increasing vaccination coverage and richer experience with pandemic management provide the confidence that the recovery can continue even in the event of a third wave,” the finance ministry’s Department of Economic Affairs said in its monthly review for August. Read more

Moody's today(23rd June 2021) slashed India's growth projection to 9.6 percent for the 2021 calendar year, from its earlier estimate of 13.9 percent, and said faster vaccination progress will be paramount in restricting economic losses to the June quarter In its report titled 'Macroeconomics India: Economic shocks from second COVID wave will not be as severe as last year's, Moody's said high-frequency economic indicators show that the second wave of COVID-19 infections hit India's economy in April and May. With states now easing restrictions, economic activity in May is likely to signify the trough. "The virus resurgence adds uncertainty to India's growth forecast for 2021; however, it is likely that the economic damage will remain restricted to the April-June quarter. We currently expect India's real GDP to grow at 9.6 percent in 2021 and 7 percent in 2022," Moody's said. Read more

Air India pilots union - ICPA - has raised an issue with Air India Director Captain R S Sandhu that they will "stop work" if the airline fails to set up vaccination camps on a 'Pan India' basis for the flying crew above the age of 18 years Also said, "With no healthcare support to the flying crew, no insurance, and a massive opportunistic pay cut, we are in no position to continue risking the lives of our pilots without vaccination. "Our finances are already spread thin covering our bedridden colleagues and provisioning for families lest we inadvertently infect them with the deadly virus that is an ever-present occupational hazard for us." According to the union, many crew members have been diagnosed as Covid positive and are struggling to get oxygen cylinders."The employees who are doing desk jobs and the majority opting to work from home are allowed to get vaccinated, leaving the flying crew vulnerable."

Shares of pharmaceutical companies are in demand with Nifty Pharma and the S&P BSE Healthcare indices gaining 2 per cent each and hitting their respective all-time highs on Tuesday as a significant resurge in Covid-19 cases across India led to a spike in demand for Covid-related drugs. Shares of Cadila Healthcare up 6.17 per cent, Dr Reddy's Laboratories up 4.58 per cent, Aurobindo Pharma up 3.42 per cent, Lupin up 3.1 per cent and Sun Pharmaceutical Industries up 1.97 per cent were among the top gainers. Sun Pharmaceutical Industries, Cadila Healthcare, Glenmark Pharmaceuticals, Panacea Biotech and RPG Lifesicenes are among those that hit 52-week highs in the intra-day trade today.Dr Reddy's stock is in focus after the company said it is going to roll out the Sputnik V COVID-19 vaccine by May-end or early June. Read more

Govt of India has set aside about 500 billion rupees ($7 billion) to vaccinate the world’s most populous nation after China against the coronavirus, according to some sources. The govt estimates an all-in cost of about $6-$7 per person in the nation of 1.3 billion, it is said. The money provisioned so far is for the current financial year ending March 31 and there will be no shortage of further funds for this purpose, they added. While a government-backed panel predicts that India is past the peak of infections and may contain the spread by February, the nation has taken a massive blow to economic growth and Modi has been reopening the economy. Starting this weekend, Indians will be celebrating several festivals that could lead to a sharp jump in daily virus infections. Pm Narendra Modi on Tuesday said his government will ensure all Indians have access to a Covid-19 vaccine as soon it is ready.