Not sure what the tech definitions are, but it certainly seems as though the worst of COVID is behind us. Not that we don't (or won't) have a few spikes now and then, as one of the good experts said, but they won't be nationwide, and devastating. Part of the reason is herd immunity, and the vaccination drives that have largely succeeded in reaching most people who were willing to take the vaccines.
So we now have to re-learn the old normal, or whatever you want to call it. Maybe old normal + masks. The mask may be good for preventing other pollution related or infectious diseases, and so may be worth wearing until we are confident of not catching a few of them.
International travel may not be the same again, and I would be wary of it for a while. Domestic travel with precautions seems reasonably safe, as of now, in India.
Livelihoods are back on track, though inflation may be a big blow for some.
The Show must go on, as the showmen keep telling us. Life goes on, having digested one more disaster.