May need another Rs 15,000 crore for vaccination says Chief Economic Advisor K V Subramanian

CEA Krishnamurthy Subramanian.

An additional Rs 15,000 crore towards vaccination may be needed above the already allotted Rs 35,000 crore says Chief Economic Advisor K V Subramanian to CNBC-TV18.

As per its reports, the Chief Economic advisor also said that the finance minister has mentioned front-loading of capital expenditure.

#CNBCTV18Exclusive | Chief Economic Adviser K V Subramanian (@SubramanianKri): At least Rs 15,000 cr may be needed for vaccination over the Rs 35,000 cr budget allocation. pic.twitter.com/YgvS3RvFao

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— CNBC-TV18 (@CNBCTV18Live) June 17, 2021

Touching on fiscal deficit, Subramanian also said that for this year, it has been budgeted to 6.5 percent.

According to Subramanian, at 34 percent of GDP, Gross Fiscal Capital Formation in the fourth quarter was the highest in 24 quarters.

The Budget this year was a fiscally expansive one, Subramanian said, adding that expansion in the Garib Kalyan Yojana Scheme amounts to Rs 70,000 crore.

Chief Economic Advisor KV Subramanian on June 3 said that the second wave of COVID-19 has affected the momentum of economic recovery. However, he also pointed that he expects a recovery in the economy from July onwards.

While speaking on the ongoing vaccination drive in India, Subramanian opined that India will be able to achieve vaccination for all by December. 

"If we vaccinate people in three shifts each day, then, we can vaccinate 1 crore people in a day. This is definitely ambitious, but not impossible. I have taken both doses of vaccine and appeal to all to get themselves vaccinated as soon as possible," he said.