In a bid to boost vaccine production amid rising Covid cases, the Centre has given in-principle approval for credit to vaccine-makers, the Serum Institute of India (SII) and Bharat Biotech, it was announced on Monday. The Finance Ministry has approved sanction of Rs 3,000 crore credit for the Serum Institute and Rs 1,500 crore to Bharat Biotech, and the credit will be disbursed at the earliest.

Earlier, Adar Poonawalla, CEO of Serum Institute of India, had suggested that the company would require around Rs 3,000 crore to increase production of Covid-19 vaccines. Industry body FICCI also recently suggested that the government should provide incentives to vaccine manufacturers to increase the production of Covid-19 vaccines in the country.