Monday, June 21, 2021
Home Business India may raise vaccine spending to $6 billion this fiscal year: Report...

India may raise vaccine spending to $6 billion this fiscal year: Report – Times of India


NEW DELHI: India may raise spending on Covid-19 shots by over a quarter this fiscal year to up to Rs 45,000 crore ($6.18 billion) from its budgeted amount, two government sources told Reuters after the prime minister offered free doses to all adults.
Prime Minister Narendra Modi said in an address to the nation on Monday that the federal government would bear the cost of vaccinating all adults from June 21. His previous policy of getting individual states to pay for immunisations for those aged under 45 years was widely criticised.
The sources, who did not want to be named as they were not authorised to speak with the media, said the government would spend up to Rs 45,000 crore on Covid-19 vaccines this fiscal year, which started on April 1. The previously budgeted amount was Rs 35,000 crore.
One of the sources said part of the increase could be due to higher-than-previous costs for domestically manufactured shots. He did not elaborate. India’s finance ministry did not immediately respond to an email seeking comment.
The country is currently using the AstraZeneca vaccine produced by the Serum Institute of India, and another developed at home by Bharat Biotech. Russia’s Sputnik V will be commercially launched in the country in the middle of the month.
Modi’s policy shift underscored a drive to rein in a Covid-19 pandemic that has killed hundreds of thousands in India and led to the world’s second-highest tally of infections.
It followed weeks of criticism of a bungled vaccine rollout that has covered fewer than 5% of India’s estimated adult population of 950 million.

FacebookTwitterLinkedinEMail





Source link

RELATED ARTICLES

Government eases listing norms for companies having over Rs 1 lakh crore m-cap – Times of India

NEW DELHI: Companies that have a market capitalisation of more than Rs 1 lakh crore at the time of listing can now sell...

Mukesh Ambani says no option but to make businesses green – Times of India

NEW DELHI: Asia's richest man Mukesh Ambani on Monday said there is no option for businesses but to go green and every unit...

SAT upholds Sebi’s fines on Rana Kapoor, two other entities – Times of India

NEW DELHI: The Securities Appellate Tribunal (SAT) has upheld regulator Sebi's orders imposing a fine of Rs 1 crore on former Yes Bank...

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular

Government eases listing norms for companies having over Rs 1 lakh crore m-cap – Times of India

NEW DELHI: Companies that have a market capitalisation of more than Rs 1 lakh crore at the time of listing can now sell...

Mukesh Ambani says no option but to make businesses green – Times of India

NEW DELHI: Asia's richest man Mukesh Ambani on Monday said there is no option for businesses but to go green and every unit...

SAT upholds Sebi’s fines on Rana Kapoor, two other entities – Times of India

NEW DELHI: The Securities Appellate Tribunal (SAT) has upheld regulator Sebi's orders imposing a fine of Rs 1 crore on former Yes Bank...

Centre proposes ban on mis-selling, fraudulent flash sales on e-commerce platforms – Times of India

NEW DELHI: The government on Monday proposed a series of amendments in Consumer Protection (E-Commerce) Rules, 2020, including a ban on mis-selling and...

Recent Comments