Mission COVID Suraksha: Key Facts
On November 12, 2020, the Finance Minister Nirmala Sitharaman announced Mission COVID Suraksha. Under the mission, the Government of India has allocated Rs 900 crores to the research and development of COVID-19 vaccines in India. The funds allocated do not cover the cost and distribution of the vaccines.
The mission is a part of the stimulus package launched on November 12, 2020, that is of worth Rs 2.65 lakh crores. Along with the mission, the finance minister also announced several other measures of economic stimulus. Also, Atma Nirbhar Bharat Rozgar Yojana was launched to boost employment in the country during COVID-19 recovery phase.
Vaccines in India
Currently three vaccines are in trial in India. They are COVAXIN, COVISHIELD and the ZyCov-D vaccine. COVAXIN is being developed by Indian Council of Medical Research and Bharat Biotech. COVISHIELD is being developed by Oxford University and Serum Institute of Technology. ZyCov-D is being developed by Zydus Cadila. All three vaccines are currently under trials in India.
Apart from these three vaccines, the Russian Vaccine Sputnik V is also under trials in the country.
COVAX of GAVI
India is a signatory of the COVAX facility of GAVI. GAVI is Global Alliance for Vaccine and Immunization. COVAX is a programme launched by GAVI to prevent vaccine nationalism. India has pledged 15 million USD for this initiative.
India bilateral agreements on COVID-19 vaccines
In October 2020, India and Myanmar signed agreements to jointly produce and supply COVID-19 vaccines. This is a part of India’s Act East Policy.
Earlier in November 2020, Bangladesh signed a deal with India’s Serum Institute to buy 30 million doses of COVID-19 vaccines
India along with South Africa has proposed to relax certain provisions of Intellectual Property Agreements to contain COVID-19 pandemic at the World Trade Organization. This has been backed by the World Health Organizations.
Category: Economy & Banking Current Affairs