PM-CARES Fund

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PM-CARES Fund

PM-CARES fund

  • Recently, a petition was filed in the Supreme Court, in which 738 district hospitals across the country were asked to direct use of PM-CARES fund for setting up of oxygen plants, and for immediate purchase of vaccines and oxygen generators.
  • Apart from this, the petition said that the government should use its PM-Cares Fund to provide medical care and oxygen to the common people.

What is PM-CARES Fund

  • Keeping in mind the need for having a dedicated national fund with the primary objective of dealing with any kind of emergency or distress situation, like posed by the COVID-19 pandemic, and to provide relief to the affected, a public charitable trust under the name of ‘Prime Minister’s Citizen Assistance and Relief in Emergency Situations Fund’ (PM CARES Fund)’ has been set up.
  • The fund was set up as a charitable trust on 27 March 2020, under the ‘Registration Act, 1908’.
  • This fund also accepts foreign donations, and can also take advantage of donations received from this foreign contribution. Be aware that donations made to this fund are hundred percent tax-free.
  • The PM-CARES fund is separate from the Prime Minister’s National Relief Fund.
  • The ex-officio Chairman of the PM-Cares Fund is the Prime Minister himself, and the Defense Minister, Home Minister and Finance Minister are the ex-officio Trustees of the Fund.

Source – PIB

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