Second Covid-19 wave in India could peak around mid-May: SBI

by Nidhi Bhati

The second wave of Covid-19 in India is likely to peak around mid-May 2021, economists at the State Bank of India (SBI) stated in a report. Country’s recovery rate has reduced to 82.5 per cent from 97 per cent since the beginning of the second wave. Based on other countries experience, economists believe that India might reach its second peak when the recovery rate will be at 77.8 per cent. With increasing production capacity of vaccines and new vaccines getting imported, it is expected that by October 2021, 15 per cent of the population will be fully vaccinated. Economists stated that experience of other countries show infections stabilise after 15 per cent of population receive second dose. The report further noted that the SBI business activity index has dipped to a new low of 75.7, similar to the level it had attained in August 2020 owing to the disruption caused by increased lockdowns and restrictions imposed in various states. This is a 24.3 per cent fall from its pre-pandemic level.