India may have to spend $1.8 billion on coronavirus vaccine
What's the story
India, which is the second worst-hit nation in the world, may need to spend $1.4 billion to $1.8 billion in the first phase of the coronavirus vaccination program, a Reuters report said.
This estimate doesn't include the help the country is likely to get under the COVAX initiative, launched by the World Health Organization (WHO).
Here are more details on this.
Shots
India needs 600 million doses for those at higher risk
India plans to administer doses to 300 million people in the next six to eight months. The government could use the vaccines developed by Oxford-AstraZeneca, Russia's Sputnik, Zydus Cadila, and Bharat Biotech.
By these estimates, the country would need 600 million shots in the first phase itself, to inoculate its frontline healthcare workers and those at higher risk of contracting the infection.
Cost
Even with COVAX's support, India would need to spend heavily
Citing an unpublished report readied for GAVI — an alliance of governments, pharmaceutical companies, charities, and global organizations — the news agency said India would need nearly $1.4 billion, even if it receives 190-250 million shots under the COVAX scheme. This was dubbed as the best case scenario.
If the country receives 95-125 million doses, it needs to line up $1.8 billion.
Estimates
More than $30 million needed to just transport vaccines
The country needs $30 million to $80 million just to transport and store vaccines, said the report.
GAVI also noted that India's economy has been ripped apart due to the pandemic. It suggested donations might help.
"Providing a low range of support would exacerbate the country's ability to allocate enough resources to mitigate the risks of continued transmission of COVID-19," the report said.
Package
GAVI in talks with Centre over support package
The federal government, led by BJP, hasn't revealed the amount it plans to spend on vaccination program. All the Centre has said is that it is ready with a plan to provide the doses to crores of people.
Meanwhile, GAVI is in talks with the Indian government about a support package.
Reuters reached out to Finance and Health Ministries but didn't receive any response.