The mounting cost of Covid-19

The rapid increase in the number of new Covid-19 cases and restrictions on activity are affecting economic recovery

New Covid-19 cases continue to rise at a worrying pace. India recorded 314,835 new cases on Thursday, the highest ever for any country in a 24-hour period. It’s not very clear at what point would the new cases begin to stabilise before they start coming down. This wave will significantly increase the final cost of the pandemic, both in terms of lives and livelihoods lost. It is likely that the spread has increased because of new virus strains, but India could have done better in handling the situation. Clearly, it declared a premature victory, which was visible in large political