India sets aside $7 bn to vaccinate the world's second biggest population against coronavirus

By Siddhartha Singh

Government has set aside about Rs 50,000 crore ($7 billion) to vaccinate the world’s most populous nation after China against the coronavirus, according to people with knowledge of the matter.

Prime Minister Narendra Modi’s administration estimates an all-in cost of about $6-$7 per person in the nation of 1.3 billion, the people said, asking not to be identified as the details are private. 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.

Vaccine Math:

• India is said to estimate two injections per person at $2 a shot
• Another $2-$3 is said to be set aside per individual as infrastructure costs such as storage and transport
• Details based on recommendations of a working group, the people said
• A Finance Ministry spokesman couldn’t immediately be reached when tried on his mobile.

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.

Both Maharashtra and Kerala record more than 8,000 #Covid19 cases in a day.

Modi on Tuesday said his government will ensure all Indians have access to a Covid-19 vaccine as soon it is ready.