The Central government established the PM CARES Fund on the third day of the nationwide lockdown during the COVID pandemic.
PM CARES Fund: During the COVID-19 pandemic, Prime Minister Narendra Modi’s government focused on helping every Indian and saving as many lives as possible. At a time when the world faced a shortage of medicines, India emerged as a beacon of hope, providing life-saving medicines to countries in need. PM Modi established the PM CARES Fund and urged people to donate to support those in need. Thankfully, the COVID-19 pandemic has ended, and the world now recognises India as a nation that supported other countries during the crisis. Interestingly, the PM CARES Fund was established by the Modi government on the third day of the nationwide lockdown and is still receiving donations.
PM CARES Fund
The central government established the PM CARES Fund on the third day of the nationwide lockdown during the COVID pandemic. The fund aimed to create a financial reserve to address health emergencies or other crises.
PM CARES Fund: Donations in 2022-2023
In the financial year 2022-2023, the PM CARES Fund received a whopping Rs 909.64 crore in donations. Additionally, Rs 2.57 crore came from foreign contributors. A major portion of the fund also came from interest earnings, which is Rs 170.38 crore. Not only that, refunds also added another Rs 225 crore to the total amount.
PM CARES Fund: Fund Expenditure
In the financial year 2022-2023, Rs 439 crore was utilised by the government. Out of which, Rs 346 crore was used for child welfare, Rs 91.87 crore for oxygen concentrators, and Rs 278 crore for bank and SMS charges.
The PM CARES Fund’s receipts and payments accounts reveal:
- 2019-2020: Rs 40 lakh from foreign donations.
- 2020-2021: Rs 494.92 crore received.
- 2021-2022: Rs 40.12 crore collected.
PM CARES Fund
It is worth noting that the PM CARES Fund was registered as a public charitable trust under the Registration Act, 1908, on March 27, 2020, in Delhi. It was registered three days after the nationwide covid lockdown.
