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LATEST NEWS UPDATES | Much of India’s population expected to be vaccinated by 2022-23, says ADB -Vikas Dhoot

Much of India’s population expected to be vaccinated by 2022-23, says ADB -Vikas Dhoot

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published Published on Jul 20, 2021   modified Modified on Jul 20, 2021

-The Hindu

The Indian government has assured COVID-19 vaccines will be provided for all by December 2021.

The Asian Development Bank (ADB) has downgraded its India growth forecast for this year to 10% on Tuesday, from 11% projected in April, citing the second wave restrictions across States and expects most of India’s population to be vaccinated by 2022-23.

The Indian government has assured COVID-19 vaccines will be provided for all by December 2021, but ADB’s comments suggest global observers are not convinced of the target being achieved.

A faster than expected spurt in fuel and food prices in India also nudged the Bank to elevate its average inflation projection for 2021-22 to 5.5% compared to 5.2% anticipated earlier. The Reserve Bank of India (RBI) has projected retail inflation at 5.1% for this period.

Retail inflation, which has been around 6.3% over May and June, is also expected to remain above the Reserve Bank of India’s preferred target level of 4% in 2022-23 at 4.8%.

India’s average inflation in 2020-21 was 6.2%, so ADB’s projections suggest nearly three successive years of inflation hovering near the central bank’s upper tolerance limit of 6% than the preferred midpoint of the 2%-6% range it has to maintain, as per the Monetary Policy Committee’s mandate.

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The Hindu, 20 July, 2021, https://www.thehindu.com/news/national/much-of-indias-population-expected-to-be-vaccinated-by-2022-23-says-adb/article35416693.ece?homepage=true


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