Packing batteries with more punch
Indian researchers are working on cells that can store more energy, last longer
As the country gets ready to vaccinate the population against the Covid-19 virus, the Centre will need to set aside a substantial amount to finance this. Healthcare allocation in the country has been quite low as a percentage of GDP, with the bulk of facilities being funded by private players. The Finance Minister will need to take steps to address the deficiency in the healthcare budget besides providing for the vaccination cost.
How much will vaccinating the entire population cost the exchequer?
While the official numbers are not out yet, Serum Institute of India has indicated that it will supply the Covid vaccine to the Centre at $3 per dose, which works out to roughly ₹440 for the prescribed two doses. Bharat Biotech has indicated the cost of two doses at ₹350.
Now, given our population of around 135 crore, vaccinating the entire nation at the Centre’s expense will result in an outgo of ₹59,488 crore if Serum Institute’s vaccine is used, and ₹47,230 crore if Bharat Biotech’s is used.
But the entire population may not have to be vaccinated. One, not all may want it. An Ipsos survey in November 2020 for the World Economic Forum showed that 87 per cent in India were agreeable to getting vaccinated.
But this number could have declined in the past month, with falling active Covid cases and the controversy over the alleged lack of transparency in the vaccine approval process. The percentage of people willing to get vaccinated could therefore be lower now, say 80 per cent.
Two, of these, many may opt to vaccinate themselves at private clinics, at a higher rate. Serum Institute has indicated that it will sell its vaccine at ₹700-800 to private medical facilities — this will be quite affordable for at least 30 per cent of the population. Given the long waiting period for the government vaccine and the risk of exposure to the virus in government facilities, many may prefer the private route, thus reducing the burden on the Budget.
Thus, of the total population of 135 crore, only around 75 crore will probably need the vaccine from the government. The extra budgetary allocation for vaccination could therefore be ₹26,000-35,000 crore, including the logistics and other vaccination expenditure.
The Centre’s Budget allocation to health and family welfare was ₹65,011 crore in FY21. The expense on the Covid vaccine is likely to increase the allocation for FY22 by at around 50 per cent.
Of concern is the fact that the expenditure on health and family welfare accounts for just 2.1 per cent of the total. This is resulting in inadequate healthcare facilities. Hospital beds per 1,000 population in India is just 20, though States/UTs such as Delhi, Karnataka, Kerala and Telangana have more beds than the national average.
The combined expenditure of the Centre and the States towards healthcare is around 1 per cent of the GDP, resulting in most people going to private facilities.
A global comparison of governments’ share in total healthcare expenditure shows the Indian government has been among the least spenders in this space.
With Covid-19 moving the spotlight on these gaps, they need to be addressed in the future Budgets.
Indian researchers are working on cells that can store more energy, last longer
To fix a broken bone, doctors often harvest another bone from the patient’s body or from someone else. It ...
Superconductors from IIScScientists at IISc Bangalore have invented a device with a nanocrystal structure ...
Engineering and construction giant L&T has won a licence from the Council of Scientific & Industrial ...
Option price falls more than it rises for the same change in underlying
A long-term vacation here is worth a check-in
The fund delivered a return of 31.5% in 2020 compared with the category’s 15.5%
Care Health Insurance’s new rider offers no great benefit. We review its pros and cons
In these isolated times when people yearn for a slice of the familiar, amateur and professional chefs are ...
While good writing wars against the cliché, television gives it a natural home
India is ready with two vaccines to beat the deadliest virus of recent times. The immunisation drive, however, ...
The storming of the Capitol on January 6 could be the prelude to yet another chapter in the US’s long and ...
Digital is becoming dominant media, but are companies and their ad agencies transforming fast enough to make a ...
Slow Network, promoted by journalist-lyricist Neelesh Misra, pushes rural products and experiences
How marketers can use the traditional exchange of festive wishes meaningfully
For Fortune, a brand celebrating its 20th anniversary, it was a rude shock to become the butt of social media ...
Three years after its inception, compliance with GST procedures remains a headache for exporters, job workers ...
Corporate social responsibility (CSR) initiatives of companies are altering the prospects for wooden toys of ...
Aequs Aerospace to create space for large-scale manufacture of toys at Koppal
And it has every reason to smile. Covid-19 has triggered a consumer shift towards branded products as ...