Govt to give biotech department ?900 crore for covid vaccine R&D
New Delhi: The government will provide Rs. 900 crore for research and development for covid-19 vaccine to the biotechnology department, Finance Minister Nirmala Sitharaman said on Thursday while announcing another stimulus package, as part of Atmanirbhar Bharat 3.0.
“This does not include cost of vaccine or logistics for vaccine distribution but whatever is required for that will be provided. We are still working on the stimulus. Aside for what we have given in the stimulus, the government is also working on vaccine-related activities,” said Sitharaman.
India is considered the vaccine capital with much of the world looking up to the country to supply a bulk of its needs for covid vaccines. Indian companies like Serum Institutte and Bharat Biotech are at the forefront of research on covid vaccines and are likely to be among the leading manufacturers as and when their commercial application is permitted.
The finance minister said covid cases are staging a recovery as active cases have more than halved to 4.89 lakh from 10 lakh (peak September) and fatality rate has come down to 1.47%.
The FM today also announced launch of a credit guarantee support scheme for healthcare sector and 26 sectors stressed due to covid-19. Entities will get additional credit up to 20% of outstanding credit with repayment possible in 5 years including a first-year moratorium on repayments.
News Source: livemint