New Delhi, Apr 19: The government has approved Rs 3,000 crores credit for Serum Institute of India and Rs 1,500 to Bharat Biotech, in a bid to ramp up COVID-19 vaccine production capacity.
The money will be sanctioned by the finance ministry and will be disbursed to the two pharma firms by the health ministry. However, an official order is expected to be out soon.
Finance Minister Nirmala Sitharaman today approved an advance payment of Rs 4,567.50 crores to Serum Institute of India & Bharat Biotech. Finance Ministry has approved Rs 3,000 crores for Serum Institute of India & Rs 1567.50 crores for Bharat Biotech, ANI reported quoting sources.
“We are clear that we will give whatever support is necessary to develop and boost the availability of vaccines in the country,” an official declining to be identified told Rueters.
So far, two vaccines — Oxford/Astrazeneca…