Editorial
Saving lives: On health facilities in India
After painfully negotiating numerous hurdles during the first wave that peaked in mid-September last year, India appears to have learnt little as a more ferocious second wave is ravaging the country. Precious time was wasted before critical facilities began to be scaled up to meet the demands of the second wave that is accelerating at an unprecedented pace, leading to health-care facilities being overwhelmed; the number of deaths shows a sharp growth of 10.2%. A mad scramble for hospital beds, oxygen, medicines, vaccines and even a quick funeral are witnessed in many cities. If the mindless rush for convalescent plasma and hydroxychloroquine even in the absence of any evidence of benefit was seen last year, there is now hysteria to get remdesivir for hospitalised patients, leading to drug shortages. Though a small trial did show that the drug shortened the time to recovery, the World Health Organization’s large Solidarity trial found no evidence of its benefit in reducing mortality,
Editorial
Vulnerability reminder: On credit-related corporate frauds
The U.K. Home Secretary Priti Patel’s reported decision to allow fugitive diamantaire Nirav Modi’s extradition to India, three years after state-owned Punjab National Bank admitted it had been defrauded to the tune of over ₹14,000 crore, serves as a reminder of the urgent need to address the banking system’s vulnerability to fraud. India’s lenders have had to contend not only with a sizeable share of sour loans but also a growing number and cumulative value of frauds. The RBI noted in its latest Annual Report, in August last year, that the total number of cases of fraud (minimum size of ₹1 lakh) at banks and financial institutions rose 28% by volume and surged 159%, or more than 2.5 times, by value to ₹1.85-lakh crore in the 12 months ended March 31, 2020. While the ongoing COVID-19 pandemic may have likely slowed the cognisance of frauds since then, the trend from the preceding years is deeply troubling from multiple perspectives. With frauds mainly occurring in the loan portfolio,
Editorial
Normal is good: On IMD monsoon forecast
The India Meteorological Department (IMD) has forecast a ‘normal’ monsoon for this year. In the agency’s parlance, normal implies that the country will get 96% to 104% of the 88 cm that it gets from June-September. This quantity, called the Long Period Average (LPA), is a mean of monsoon rainfall from 1961-2010. The IMD, for over 20 years now, follows a two-stage monsoon forecast system. After the prognosis in April, it gives an updated estimate in late May or early June. This includes an estimate of how much rain is likely in: northwest India, northeast India, central India and southern peninsula. Numbers are also given for July and August, which see two-thirds of the monsoon rains and are the most important months for sowing. This year, there will be forecasts for June and September too, to be given in May and August, respectively. Historically, predicting rain for June and September is challenging as it corresponds to the monsoon’s entry and exit. There will also be forecasts for
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Another beginning: On vaccine vigilance
Pharmacovigilance is vital as more vaccines become available and new side-effects seen
