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Coronavirus vaccine update: Centre provides Rs 900 crore R&D grant

Finance Minister Nirmala Sitharaman said that the economy was recovering as the active COVID-19 cases in the country had fallen.

November 12, 2020 / 15:50 IST
Finance Minister Nirmala Sitharaman

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.

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COVID-19 Vaccine

Frequently Asked Questions

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How does a vaccine work?

A vaccine works by mimicking a natural infection. A vaccine not only induces immune response to protect people from any future COVID-19 infection, but also helps quickly build herd immunity to put an end to the pandemic. Herd immunity occurs when a sufficient percentage of a population becomes immune to a disease, making the spread of disease from person to person unlikely. The good news is that SARS-CoV-2 virus has been fairly stable, which increases the viability of a vaccine.

How many types of vaccines are there?

There are broadly four types of vaccine — one, a vaccine based on the whole virus (this could be either inactivated, or an attenuated [weakened] virus vaccine); two, a non-replicating viral vector vaccine that uses a benign virus as vector that carries the antigen of SARS-CoV; three, nucleic-acid vaccines that have genetic material like DNA and RNA of antigens like spike protein given to a person, helping human cells decode genetic material and produce the vaccine; and four, protein subunit vaccine wherein the recombinant proteins of SARS-COV-2 along with an adjuvant (booster) is given as a vaccine.

What does it take to develop a vaccine of this kind?

Vaccine development is a long, complex process. Unlike drugs that are given to people with a diseased, vaccines are given to healthy people and also vulnerable sections such as children, pregnant women and the elderly. So rigorous tests are compulsory. History says that the fastest time it took to develop a vaccine is five years, but it usually takes double or sometimes triple that time.

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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.

Moneycontrol News
first published: Nov 12, 2020 03:50 pm

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