Sputnik V to be available from Tuesday in Delhi's Indraprastha Apollo Hospital

According to the price fixed by the Centre in an order issued on June 8 last, Sputnik V will be priced at Rs 1,145, inclusive of hospital charges and tax.

Dr Reddy's Laboratories had applied for emergency use of the vaccine in February and it was given approval by India's drug regulator in April.

The vaccine will be produced by five pharma companies in the country and 850 million doses will be manufactured annually.

The vaccine has the highest efficacy rate of 91.6 per cent after Moderna and Pfizer shots.

The government has set itself the target of inoculating all eligible individuals by the end of this year.

The dire shortage in vaccine supply, which forced many states to shut down their vaccination camps, would be eased from August as the production of both Covaxin and Covishield is likely to pick up.

Earlier this month, the Centre revamped its vaccination policy and took away the responsibility of procuring and vaccinating from the states.

While announcing the new policy, Prime Minister Narendra Modi had said that the Centre will procure 75 per cent of all the vaccines produced by companies, including 25 per cent currently assigned to the states and private hospitals will continue to buy the remaining 25 per cent and vaccinate those who are willing to pay.