Categories: Market Overview

India overtakes Brazil to become the second-worst hit country as Covid cases soar

India overtook Brazil as the second worst-infected country behind the United States after data showed that Covid-19 cases continued to surge. The South Asian nation reported more than 168,000 new cases over a 24-hour period on Monday, according to health ministry data. Around 83% of the new infections were reported in 10 states, including the western state of Maharashtra, which is home to India’s financial capital Mumbai.

Since the beginning of April, India has reported more than 1.37 million cases, bringing the country’s total number of infections since last January to over 13.5 million; cases began rising since February after reaching a peak in September. Though Maharashtra has been the hardest-hit state in the second wave, cases in other areas — including the populous state of Uttar Pradesh — are going up.

Daily reported death rate is also climbing as hospitals face pressure over supplies, including the number of beds available. Still, compared to other countries including the U.S., India’s Covid-related deaths are relatively low. Health Minister Harsh Vardhan has reportedly blamed the second wave of infections on people’s lack of commitment toward wearing masks and practicing social distancing.

India’s health ministry says that more than 100 million doses of vaccines have been administered since the government began an ambitious inoculation program in January. Since April 1, anyone over 45 years old is eligible for their shots. Media reports say that some states, including Maharashtra, are facing a severe vaccine shortage. The Indian government, in response, accused those states of diverting attention away from their failure to control the virus.

India overtakes Brazil to become the second-worst hit country as Covid cases soar, CNBC, Apr 12

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This team of professional journalists announces the most interesting and influential articles from the major financial media as a brief summary. All such news may have sufficient potential to affect the course of trading assets.

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