In India, return of migrants due to the pandemic has led to rural distress. Urban poverty is also on the rise. This has led to decline in consumption. The upcoming Budget should aim to improve consumption demand by offering tax relief for lower-income tax brackets.

A technical panel formed by Odisha has advised against the use of molnupiravir to treat COVID-19 until there is sufficient evidence regarding its safety, say sources, quoting a directive sent by a regional drugs inspector.

Existing antiviral drugs like molnupiravir and favipiravir may not be the best treatment options for COVID, says Anup R. Warrier, head of infectious diseases and infection control in India at Aster DM Healthcare.

The government should consider providing income tax breaks in the Budget for 2022-23 (Apr-Mar) to boost consumption, says YES Bank Chief Economist Indranil Pan. "Somewhere we will have to take that call and boost the demand," he says.

Prices of tur, which hit a high of 7,000 rupees per 100 kg on Tuesday, are likely to soften next month when fresh arrivals from a number of states make their way to markets across the country. In the meantime, traders are bracing for another rally amid short supply.