Finance Minister Nirmala Sithraman, on November 12, announced that the government had provided Rs 900 crore to the Department of Biotechnology for research on and development of a vaccine for COVID-19.
"(The govt has provided) Rs 900 crores for COVID Suraksha Mission for research and development of the Indian COVID vaccine to the Department of Biotechnology," Sitharaman, who announced the next set of stimulus measures today, said.
She added, however, that this did not include the cost of distribution of the vaccine once after approval.
The new stimulus measures are aimed at providing relief to the Indian economy which is reeling under the impact of the novel coronavirus pandemic. Over the past month or so, there were multiple discussions within the central government and with industry bodies and stakeholders leading up to today’s announcement.
In the press briefing, the finance minister said that the economy was recovering as the active COVID-19 cases in the country had fallen.
FM Nirmala Sitharaman also highlighted measures taken by the Centre in the last few months to support economy growth.
FM Sitharaman said that measures taken under the first phase of ‘Atmanirbhar Bharat’ – such as ‘One Nation One Ration Card’ – were making progress.
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