Economic Survey 2022: Vaccination a macro-economic indicator

Immunization to prevent Covid is critical for opening up the economy, especially for the contact-intensive services, says Economic Survey 2022

The Economic Survey 2022 tabled in Parliament on Monday by Finance Minister Nirmala Sitharaman lays special emphasis on the need to see widespread vaccine coverage as a macroeconomic indicator.

The Survey, highlights of which have been emerging, notes that vaccination should not just be seen as a health response. Instead, immunization to prevent Covid is critical for opening up the economy, especially for the contact-intensive services. 

Thus, the government, now believes that vaccination should be treated for now as a macro-economic indicator. The Survey noted that the onset of the new Omicron variant of Coronavirus not just led to a spike in inflation but also set in motion liquidity withdrawal by major central banks. 

Hence, the Survey noted that it was essential to look at India's macroeconomic stability indicators and their ability to buffer against stresses.

Over the course of a year, the country's Covid-19 vaccination coverage has exceeded 166.03 crores. In the last 24 hours alone, more than 28 lakh vaccine doses have been administered.

The nationwide Covid-19 vaccination, which started on January 16 last year, has been ramped up through the availability of more vaccines, advanced visibility of vaccine availability to States and Union Territories, and streamlining the vaccine supply chain.

According to government data, over 164.59 crore vaccine doses have been provided to States/UTs free of cost and through the direct state procurement category. Over 12.38 crore balance and unutilized vaccine doses are still available with the states/UTs to be administered.

Special Coverage: Union Budget 2022