FM announces Rs 900 crore grant for COVID-19 vaccine research

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New Delhi, Nov 12 (PTI) Finance Minister Nirmala Sitharman on Thursday announced a Rs 900 crore grant to the Department of Biotechnology for COVID-19 vaccine research.

'We are providing Rs 900 crore for research and development of COVID-19 vaccine. This is being provided for covid suraksha mission, purely for R&D but this money goes to Department of Biotechnology for research purposes,' she said.

Sitharaman said the grant does not cover the actual cost of vaccine and distribution expenses, which will be made separately as and when the vaccine is available.

'The actual cost of the vaccine or logistics required for distributing the vaccine is totally different and whatever is required for that, as and when it is required will be provided. But this is totally a different purpose and this is for research for vaccine development which goes towards department of biotechnology,' she added.

Sitharaman also said that Rs 10,200 crore additional budget outlay will be provided towards capital and industrial expenditure for domestic defence equipment, industrial incentives and infrastructure and green energy. PTI JD ANZ RAM