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Project Detail:
Supporting Health Systems Strengthening Projects.
India is one of the fast-growing large economies and its growth averaged over 6.7% between 2015 and 2019. However, the coronavirus disease (COVID-19) pandemic hit the Indian economy hard. The economy faced its worse ever contraction in fiscal year (FY) 2020 since World War II, contracting at 7.3% in FY2020. Economic activity will continue to remain below the pre-pandemic level despite a strong rebound of 10.0% in FY2021 and 7.5% in FY2022. The government has significantly widened the fiscal deficit to fight the pandemic and support economic and social recovery. Fiscal deficit was revised up to 9.5% (FY2020-2021) amid falling revenue and increased expenditure, from budgeted 4.6% of gross domestic product made last year (FY2019-2020). India has reported over 32.4 million confirmed cases, second largest after the United States as of 22 August 2021. India faced a devastating second wave starting March 2021 and was reporting more the 400,000 COVID-19 positive cases daily for 4 consecutive days and peaked on 7 May 2021 with a record high of 414,188 new COVID-19 cases. Despite the containment measures and increased testing capacity (over 2.2 million samples per day) to detect and isolate cases, COVID-19 threat of impending thirdwave looms high. Its negative mental and physical health impacts, especially on vulnerable population groups such as urban migrant population and old persons, will require longer-term health system responses.
Note: Please Download Project Document attached to this Project for more information.
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