Economic indicators improving, 2nd Covid wave may last upto 100 days: SBI

The State Bank of India in a report said that the business activity Index has declined in the recent weeks with the latest value at 101.7. The research report titled 'Second wave of infections: The beginning of the end?' notes the spike in coronavirus cases as over 2.5 million cases are likely to be reported in the second wave that may last upto 100 days.

The report authored by Dr Soumya Kanti Ghosh, group chief economic adviser, State Bank of India, states that lockdowns have not resulted in controlling the spread of infection. "Increasing the speed of vaccination is the only way to win the battle against Covid-19 pandemic. Injection to infection ratio shows Israel, UK and Chile are doing better than India. However, the pace of vaccination in India is much higher. So far India has given 50.8 million shots in a span of 67 days, or 790,000 shots per day."

"India is witnessing second wave of infection beginning February 2021, with daily new cases rising again. Pan-India total cases in the second wave expected in the order of 25 lakhs (based on trends in data till 23-Mar). Considering the number of days from the current level of daily new cases to the peak level during the first wave, India might reach the peak in the second half of April," the report said.

In the past 24 hours, 53,476 new coronavirus infections were reported in a day, taking the nationwide Covid-19 tally to 11,787,534, according to the Union Health Ministry data. The active caseload registered an increase for the 15th day in row and was recorded at 395,192. 

"Though Global Covid-19 experience shows second wave much higher in intensity than the first wave, presence of vaccine makes the difference currently. Thus India will be able to manage the situation better," the report said.

The cumulative number of Covid-19 vaccine doses administered in the country has crossed 52.1 million, the Union Health Ministry said on Wednesday.

A total of 52,197,380 vaccine doses have been given, according to a provisional report till 7 pm. These include 7,956,925 healthcare workers (HCWs) who have taken the first dose and 5,047,927 HCWs who have taken the second dose, 8,433,875 frontline workers(FLWs) who have been given the first dose and 3,202,183 FLWs who have received the second dose.

Besides, 22,601,622 beneficiaries more than 60 years old and 4,954,848 beneficiaries aged 45 and above with specific co-morbidities have been administered the first dose.