The Covid-19 vaccination program in India saved 34 lakh lives and create a net economic benefit of $15.4 billion. Union Health Minister Mansukh Mandaviya released Stanford University’s working report.
Stanford University’s working report estimates that in India more than prevented 34,22,000 deaths due to
the vaccination drive in the year 2021. Union Health Minister Dr. Mansukh Mandaviya released the working paper “Healing the Economy: Estimating Economic Impact of Vaccination & related measures”
Stanford Paper highlights that India saved more than 3.4 million lives through the nationwide COVID19 vaccination campaign. COVID-19 vaccination campaign yielded a positive economic impact by preventing a loss of US$ 18.3 billion. A net benefit of US$ 15.42 billion for the nation after taking into consideration the cost of the vaccination campaign.
Releasing the Stanford paper, Union health minister Dr. Mandaviya stated that “India launched the world’s biggest vaccination drive. A total of 2.2 billion dosages in all for eligible beneficiaries was life-saving.
The report reflects that vaccines are a macroeconomic stabilizing indicator. The cumulative lifetime earnings of the lives saved through vaccination tolled up to $ 21.5 billion.
Positive Impact on Economy
COVID-19 vaccination campaign yielded a positive economic impact by preventing a loss of US$ 18.3 billion.
A net benefit of US$ 15.42 billion for the nation after taking into consideration the cost of the vaccination campaign
Spending estimate of 280 billion US dollars (As per IMF) through direct and indirect funding had a positive impact on the economy
With schemes to support MSME sector, 10.28 million MSMEs were provided assistance resulting in an economic impact of US$ 100.26 billion (4.90% GDP)
Under PMGKAY, free food grains distributed to 800 million people, which resulted in an economic impact of approximately US$ 26.24 billion
Under PM Garib Kalyan Rozgar Abhiyan, 4 million beneficiaries were provided employment which resulted in an overall economic impact of US$ 4.81 billion
