BIG Covid 19 vaccine boost: Modi Government to release Rs 4,567.50 crore for Serum Institute and Bharat Biotech

In a big shot in the arm for medical care unit and fight against Covid 19, the government has approved an advance payment of Rs 4,567.50 crore to both Serum Institute of India and Bharat Biotech. Union Finance Minister Nirmala Sitharaman on Monday (April 19, 2021) approved the advance payment to both Covid 19 manufacturing units.  The Finance Ministry has approved Rs 3,000 crores for Serum Institute of India and Rs 1567.50 crores for Bharat Biotech.   

See Zee Business Live TV Streaming Below:

The development comes after Industry body FICCI recently suggested that the government should provide incentives to vaccine manufacturers to increase the production of Covid-19 vaccines in the country. 

In another big development aimed at arresting rising Covid 19 cases, the government has allowed vaccination for those above 18 years from May 1.  

Sitharaman had said that she had discussed COVID-19 management in the country with various industry chambers the concerns of India Inc. She further, said that the Centre would continue to work with state governments to save lives and livelihood amid the pandemic.  

In a tweet, she wrote: “Spoke on telephone with each of the following business/Chamber leaders. Took their inputs on industry/Association related matters. Informed them that GoI at various levels from PMO is responding to COVID management. Working together with states for lives and livelihoods."  

The decision by the ministry comes days after SII CEO Adar Poonawalla requested the government for Rs 3,000 crore grant for ramping up capacity of the COVID-19 vaccine beyond 100 million doses a month.  

The Pune-based vaccine maker hoped to increase its production capacity by the month of June, 2021. 

With IANS inputs