The PM CARES Fund

Context: The PM CARES Fund released its delayed FY 2023-24 and 2024-25 audited statements, showing expenditure of just ₹87.85 lakh in FY25, against ₹1,279.9 crore income and an ₹8,452.06 crore closing balance.

About The PM CARES Fund:

What It Is?

• The Prime Minister’s Citizen Assistance and Relief in Emergency Situations Fund (PM CARES Fund) is a dedicated national public charitable trust set up to provide assistance, emergency relief, and rehabilitation during public health crises, natural calamities, or man-made disasters.

Established In & History:

• Established On: Registered on March 27, 2020, under the Registration Act, 1908 in New Delhi.
• Historical Context: Constituted in the wake of the global COVID-19 pandemic to create a specialized, flexible national corpus for healthcare infrastructure augmentation, indigenous medical research, and direct financial relief for affected citizens.

Aim: To undertake and support relief or assistance of any kind relating to a public health emergency, calamity, or distress situation—including upgrading healthcare and pharmaceutical infrastructure, funding critical research, and rendering direct financial grants to distressed populations.

Key Features of the PM CARES Fund:

• Ex-Officio Trusteeship & Pro Bono Governance: Chaired by the Prime Minister of India (ex-officio), with the Ministers of Defence, Home Affairs, and Finance as ex-officio trustees, alongside eminent nominated trustees who serve entirely in a pro bono capacity.
• Exclusively Voluntary Contributions: Operates without any budgetary allocations from the Government of India, relying entirely on voluntary contributions from individuals, organizations, and public/private entities.
• 100% Tax Exemption Under Section 80G: Donations qualify for a 100% tax exemption under Section 80G of the Income Tax Act, 1961 for donors.
• Corporate Social Responsibility (CSR) Eligibility: Qualifying contributions from companies are recognized as eligible Corporate Social Responsibility (CSR) spending under Schedule VII of the Companies Act, 2013.
• FCRA Exemption for Global Inflows: Granted an exemption under the Foreign Contribution (Regulation) Act (FCRA), maintaining a dedicated bank account to accept international donations from overseas individuals and institutions (similar to the Prime Minister’s National Relief Fund – PMNRF).