FM announces Rs 900 crore grant for COVID-19 vaccine research

Finance Minister Nirmala Sitharman on Thursday announced a Rs 900 crore grant to the Department of Biotechnology for COVID-19 vaccine research. She said the grant does not cover the actual cost of vaccine and distribution expenses, which will be made separately as and when the vaccine is available.

She also said that Rs 10,200 crore additional budget outlay will be provided towards capital and industrial expenditure for domestic defence equipment, industrial incentives and infrastructure and green energy.

Today, the Pune-based Serum Institute of India (SII) and Indian Council of Medical Research (ICMR) announced the completion of enrolment of phase-3 clinical trials for potential COVID-19 vaccine Covishield in India.

The ICMR and SII have collaborated for the clinical development of Covovax developed by Novavax, US and upscaled by SII, a statement said.

Earlier, Sitharaman had said the revival of the nations’ economy post-Covid lockdown was clearly visible and the indicators looked positive.

“We are getting good positive marks from high-frequency indicators. And, indicators from all states show a revival,” she had pointed out.

“I have been speaking with industry leaders directly who say we reached pre-Covid capacity utilisation. So revival is clearly visible,” Sitharaman told a press conference during a visit to Vijayawada.

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