Indian Economy - 'Unlocking, Vaccine Ramp Up Brighten Revival Prospects': ICRA
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ICRA Research Report
With many states having commenced a phased unlocking, the early high frequency indicators confirm a sequential improvement in June 2021, although the trend relative to June 2020 is mixed.
Active Covid-19 cases have declined, but remain considerable at 0.6 million, and are concentrated in just a few states such as Maharashtra, Kerala, Karnataka, Tamil Nadu and Andhra Pradesh.
Encouragingly, the last week has seen a sharp ramp up in the administration of Covid-19 vaccines to an average of six million per day during June 21-27, 2021, from an average of 3.2 million per day in the previous week.
If the pace of vaccination is maintained at six million per day in Q2 FY2021 and subsequently increased to eight million from Q3 FY2022 onwards, we expect all adults to receive both doses of the vaccine by early February 2022.
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