India Becomes Second Country After U.S. to Hit 20 Million Covid Cases
Published Date: 5/4/2021
Source: Bloomberg Quicktake: Now
Two weeks ago, Indian Prime Minister Narendra Modi called on states to only consider lockdowns “as the last option.” Now everyone from his political allies to top business leaders and U.S. President Joe Biden’s chief medical adviser see them as the only way to stem the world’s worst virus outbreak. The debate has been complicated by Modi’s move last year to impose a nationwide lockdown without warning, spurring a humanitarian crisis as migrant workers fled on foot to rural areas. While Modi is keen to avoid that criticism again, particularly after his Bharatiya Janata Party failed to win an election in West Bengal when votes were counted Sunday, even states run by his party are ignoring his advice. “One of the problems is this false narrative that it’s either a full lockdown, which equates to economic disaster, or no lockdown, which is a public health disaster,” said Catherine Blish, an infectious disease specialist and global health expert at Stanford Medicine in California. “What’s happening now is a health and an economic disaster. If you have huge swaths of your population getting sick, that’s not good for your population or your economy.” In the past week, television channels and social media have been flooded with grim scenes of overcrowded crematoriums and desperate pleas for oxygen from hospitals. On Tuesday, the country reported more than 357,000 new infections to cross 20 million cases, as well as 3,449 deaths. The Indian rupee has turned into Asia’s worst-performing currency this quarter from being the best in the previous quarter as foreigners pulled about $1.8 billion from the nation’s stocks and bonds. The benchmark S&P BSE Sensex Index declined about 1.5% as investors turned cautious amid the deadly outbreak. Subscribe to our YouTube channel: https://bit.ly/2TwO8Gm Bloomberg Quicktake brings you live global news and original shows spanning business, technology, politics and culture. Make sense of the stories changing your business and your world. To watch complete coverage on Bloomberg Quicktake 24/7, visit http://www.bloomberg.com/qt/live, or watch on Apple TV, Roku, Samsung Smart TV, Fire TV and Android TV on the Bloomberg app. Have a story to tell? Fill out this survey for a chance to have it featured on Bloomberg Quicktake: https://cor.us/surveys/27AF30 Connect with us on… YouTube: https://www.youtube.com/user/Bloomberg Breaking News on YouTube: https://www.youtube.com/c/BloombergQuickTakeNews Twitter: https://twitter.com/quicktake Facebook: https://www.facebook.com/quicktake Instagram: https://www.instagram.com/quicktake