India Allocates $4.81b For Virus Vaccines In Budget

India plans to spend $30.20b on healthcare over the next six years; UAE reports 2,730 new cases and 9 deaths; 2m Australians in lockdown after new case; UK to push testing after finding S.African variant.

India boosted healthcare spending by 135% and lifted caps on foreign investment in its vast insurance market on Monday to help revive an economy that suffered its deepest recorded slump as a result of the pandemic.

India’s government has proposed to increase spending on health care in a $477 billion budget for 2021-22 that promises extra help for weathering the coronavirus pandemic.

While announcing the federal budget, Union Finance Minister Nirmala Sitharaman said the government has allocated Rs35,000 crore ($4.81 billion) for COVID-19 vaccines, and will grant more funds if needed.

India is providing two vaccines: the AstraZeneca shot manufactured locally by Serum Institute of India and another made by Bharat Biotech. More than 3.5 million people have been vaccinated so far.

Sitharaman said the government plans to spend Rs2.2 trillion ($30.20 billion) on health care over the next six years to improve an underfunded health system that has creaked under the additional burden of the pandemic, which has killed more than 154,000 Indians so far.