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  • Govt to provide Rs 900...

Govt to provide Rs 900 crore for Covid Vaccine Research and Development

MD BureauWritten by MD Bureau Published On 2020-11-15T12:00:09+05:30  |  Updated On 15 Nov 2020 12:00 PM IST
PBT Raises Rs 18 Crore on Social Stock Exchange for Free Healthcare Initiative

PBT Raises Rs 18 Crore on Social Stock Exchange for Free Healthcare Initiative

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New Delhi: The government will provide Rs 900 crore to the Department of Biotechnology for the Covid Suraksha Mission, Finance Minister Nirmala Sitharaman said on Thursday while announcing another stimulus package, as part of 'Aatmanirbhar Bharat 3.0'.

The government grant will be used for research and development (R&D) of the Indian Covid vaccine.

Announcing the R&D fund, Sitharaman said that it would only cater to identified activity and would not cover the cost of vaccine or logistics required for its development. These will be provided separately, she said.

Indian companies like the Serum Institute and Bharat Biotech are conducting trials for Covid vaccines in the country and are most likely candidates to produce it when all necessary permissions are given.

The Finance Minister also announced Rs 10,200 crore additional budget outlay for capital and industrial expenditure.

This allocation will go into strengthening domestic manufacturing capabilities, especially in areas of defence equipment and green energy equipment.

Read also: Zydus Cadila Covid therapy PegiHep completes Phase II trial

The additional money will also support rolling out of industrial incentives and facilitate development of industrial infrastructure.

Sitharaman said that this spend will be in addition to what had already been provided for boosting capital expenditure and supporting local industries.

Read also: COVID vaccine: Russia claims Sputnik V shows 92 percent efficacy



department of biotechnologycovid suraksha missionnirmala sitharamanaatmanirbhar bharatcoronaviruscovid-19coronavirus vaccine
Source : IANS
MD Bureau
MD Bureau

    Medical Dialogues Bureau consists of a team of passionate medical/scientific writers, led by doctors and healthcare researchers.  Our team efforts to bring you updated and timely news about the important happenings of the medical and healthcare sector. Our editorial team can be reached at editorial@medicaldialogues.in.

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