The second wave appears to have peaked in the Americas and Europe. It is trending upwards in the Middle East, North Africa and Central Asia region. It is also trending upwards in Australasia, although it is evident only in South Asia. Mortality in Australasia, including India, is, however, on a much lower base compared to the transatlantic region.
Even before the shock of Covid-19, India’s economy had been losing momentum with growth slowing steadily. Now, after a large GDP contraction due to the pandemic, medium- to long-term prospects remain uncertain amid the second wave of infections.
India (the Centre and states) spend 1.26% of GDP (FY20BE) on health, way behind Brazil at 6.8%, Turkey 10.5% and Mexico 11.6%. States were estimated to spend spend about Rs 1.9 lakh crore in FY20BE while the Centre about Rs 77,000 crore.