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
This picture has been used for representational purposes
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 vccine. 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.
ADVERTISEMENT
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.
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.
Keep scrolling to read more news
Catch up on all the latest Crime, National, International and Hatke news here. Also download the new mid-day Android and iOS apps to get latest updates.
Mid-Day is now on Telegram. Click here to join our channel (@middayinfomedialtd) and stay updated with the latest news
This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever
Subscribe today by clicking the link and stay updated with the latest news!" Click here!
