India has set aside $7 billion to vaccinate the world’s second biggest population

By: |
October 22, 2020 5:22 PM

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

Some experts fear vaccines may not even meet the 50% efficacy threshold that the WHO has advised for vaccine candidates qualifying for use.Pfizer vaccine requires to be stored at minus 70 degrees unlike other vaccine candidates.

India’s government has set aside about 500 billion rupees ($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

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.

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

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