What is the PM CARES Fund?

“PM CARES Fund” or “Prime Minister’s Citizen Assistance and Relief in Emergency Situations Fund” is presently aimed at strengthening the fight against COVID-19. It will further availability of vaccine to meet the demands.

When was PM CARES Fund setup?

The PM CARES fund was registered on March 27 as a public charitable trust under the companies act 2013, and announced through a press release issued by the PMO. 

How to donate?

There are three distinct categories available while donating to the PM CARES Fund. You can choose between domestic transfer or foreign transfer. In foreign transfer there are two sub categories – credit/debit card or wire transfer/swift. 

However, there are certain important things you need to keep in mind before donating and that is PM CARES Fund provides assistance and relief only in India. Hence, contributions wherein the donor intends donations for the foreign citizens/calamities abroad are not accepted in the Fund.

*Contributions once processed cannot be cancelled or refunded.*

What are the goals or objectives of establishing PM CARES Fund?

• To undertake and support relief or assistance of any kind relating to a public health emergency or any other kind of emergency, calamity or distress, either man-made or natural, including the creation or upgradation of healthcare or pharmaceutical facilities, other necessary infrastructure, funding relevant research or any other type of support.

• Narendra Modi has said the fund would benefit the “poorest of the poor” and strengthen disaster management.

• The fund is expected to help millions of day labourers, many of whose lives were devastated by a nationwide lockdown imposed in march to curb the spread of COVID-19.

• Donations to PM CARES Fund would qualify for 80G benefits for 100% exemption under the Income Tax Act, 1961. Donations to PM CARES Fund will also qualify to be counted as Corporate Social Responsibility (CSR) expenditure under the Companies Act, 2013.

• To render financial assistance, provide grants of payments of money or take such other steps as may be deemed necessary by the Board of Trustees to the affected population.

The total income of the PM CARES Fund to this date is 3076.62 crore rupees.

Concerns and Criticism related to the PM CARES Fund.

• Some aid groups are concerned that the new, high-profile fund might divert resources away from grassroots humanitarian efforts.

• Congress party has said the new fund lacks transparency, and it has questioned why it was created and why it couldn’t be merged with the older fund, like the Prime Minister’s National Relief Fund, setup in 1948 with a balance of 38 billion rupees ($498.6 million).

• PM CARES Fund does not come under the RTI Act. The RTI Act enables citizen to seek information regarding any government organisation, public authority, the constitution of a Central Information Commission and State Information Commissions.