- As per the latest findings, 64 per cent of the amount of Rs 10,990 crore collected by the PM CARES Fund between March 27, 2020 and March 31, 2021 remained unutilized till the end of March.
- ‘PM CARES Fund’ was introduced as a ‘dedicated fund with the prime objective of dealing with any kind of emergency and providing relief to the affected’. However, only Rs 3,976 crore was spent by PM Cares in the first year of its operation.
Issues related to PM Cares Fund and its functioning:
- The ‘PM CARES Fund’, ever since its announcement, has been under suspicion, and there have been calls for transparency in the fund’s operation by opposition parties.
- Formation of ‘Prime Minister’s Citizen Assistance and Relief in Emergency Situations Fund: PM-CARES Fund’, accepting donations during the COVID-19 pandemic, and other similar emergencies and to provide relief.
About PM Cares Fund?
- PM CARES Fund was established on March 27, 2020 as a charitable trust under the ‘Registration Act, 1908’.
- It can avail donations from foreign contributions and donations made to this fund are 100% tax-free.
- PM-CARES is different from the Prime Minister’s National Relief Fund (PMNRF).
- The Prime Minister is the ex-officio chairman of the PM CARES Fund and the Defense Minister, Home Minister and Finance Minister are the ex-officio trustees of the Government of India fund.