If favourable market conditions continue, prices could reach between $2,600 and $2,800 over the next 12 months, says expert
India will spend $3.1 billion to create new healthcare facilities in preparation for another possible wave of coronavirus infections.
On Thursday, India’s Health Ministry announced more than 800 confirmed deaths and 45,892 new cases of Covid-19.
Health Minister Mansukh Mandaviya said 50 field hospitals with up to 5,000 beds, 20,000 intensive care unit beds, 700 paediatric centres and storage facilities for medical oxygen in 700 districts will be set up in nine months.
India increased the numbers of oxygen-supported beds to more than 400,000 from a mere 50,000 in March last year, Mandaviya said on Thursday.
Prime Minister Narendra Modi’s government approved the new spending at a Cabinet meeting. The federal government will meet 65 per cent and states 35 per cent of the expenditure.
More than half of India’s reported 400,000 coronavirus deaths, third highest in the world, have occurred in the past two months as the delta variant of the virus tore through the nation and overwhelmed its already strained health system.
New cases are on the decline after exceeding 400,000 a day in May. Total cases stand at 30.7 million.
If favourable market conditions continue, prices could reach between $2,600 and $2,800 over the next 12 months, says expert
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