HIGHLIGHTS-India unveils budget aimed at boosting pandemic-hit economy

POLICY * India to launch new vehicle scrapping policy * India to monetise infrastructure assets * To allocate 2.87 trillion rupees ($39.40 billion) for clean water supplies over the next five years ($1 = 72.8370 Indian rupees) (Compiled by Alasdair Pal Editing by Euan Rocha)

Indian Finance Minister Nirmala Sitharaman on Monday unveiled the budget for fiscal 2021-22, that aims to shore up an economy badly-hit by the novel coronavirus pandemic.

The economy is projected to contract 7.7% in the current fiscal year, although the government forecasts growth of 11% for the coming fiscal year, after a massive COVID-19 vaccination drive and a rebound in consumer demand and investments. These are the initial highlights from Sitharaman's fiscal 2021-22 budget speech:

HEALTHCARE * India to allocate 2.2 trillion rupees ($30.20 billion) for healthcare in 2021/22

* Sitharaman says expect two or more COVID-19 vaccines soon * India to launch new federal health scheme with outlay of around 641 billion rupees ($8.80 billion) over the next six years

* To allocate 350 billion rupees ($4.81 billion) for COVID-19 vaccines, and allocate more funds if needed. POLICY

* India to launch new vehicle scrapping policy * India to monetise infrastructure assets

* To allocate 2.87 trillion rupees ($39.40 billion) for clean water supplies over the next five years ($1 = 72.8370 Indian rupees) (Compiled by Alasdair Pal Editing by Euan Rocha)