The Ministry of Finance proposes a 24/7 vax unit to reactivate green growth

Business
The Ministry of Finance proposes a 24/7 vax unit to reactivate green growth


NEW DELHI: A report from the Ministry of Finance on Wednesday called for intensifying the vaccination campaign to cover a population 70 million rupees in September, arguing that it is essential to obtain the growth boost going.
“Herd immunity is achieved when 80% of the population is immune or less susceptible to infection. The key to regaining the momentum of economic recovery is to achieve group immunity as soon as possible, ”said the latest monthly economic report from the ministry.
Noting that the second wave of Covid has affected the momentum of the recovery, the report said that manufacturing and construction are expected to experience a milder economic shock in the current quarter. But he acknowledged that downside risks have emerged as the economy was recovering from last year’s supply and demand shocks.
In addition, he warned of price pressures such as high international rates for raw materials and logistics costs it could raise the cost of inputs for manufacturing and services, although a normal monsoon was expected to ease inflationary pressures on food. “The outlook for core inflation (excluding food and fuel) is likely to be affected by disruptions in supply chains due to localized restrictions in the states,” he said, pointing to mixed signals as retail inflation had cooled to 4.3% in April. , while wholesale price inflation shot up to 10.5%.
Noting the global inflation situation in the wake of rising commodity prices, the Finance Ministry analysis also warned that a prolonged rise poses a threat to investor confidence and global financial stability. The document estimated that almost 113 crore of doses would be needed by the end of September and suggested that to achieve 93 lakhs of vaccines per day, the government needed to double shifts and vaccinate 24×7 during August and September, when the supply will also improve.
“Operational challenges can be addressed through careful planning and expanding vaccine transport, storage and administration capacity,” he said, while advocating for a campaign to address concerns about vaccines.

.



Source link