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The PM Cares Fund is an abbreviation for Prime Minister’s Citizen Assistance and Relief in Emergency Situations Fund. It was created in India on 27 March 2020, during the Covid-19 pandemic.
The fund’s main purpose is to provide relief for Indian citizens affected by the coronavirus and similar emergencies that might occur in the future. The PM Cares Fund invites donations from individuals and companies, whether local or international. These donations can be made on the PM Cares fund’s website.
The PM Cares Fund was formed with Prime Minister Narendra Modi as the chairperson, and the trustees are senior cabinet members. It is registered as a public charitable trust, and the trust deed is registered under the 1908 Registration Act.
PM Cares Fund
The PM Cares Fund is a dedicated national fund set up to deal with natural calamities or emergencies in India. This fund is classified as a public charitable project. The headquarters of the PM Cares fund is located in the Prime Minister’s Office at South Block in New Delhi.
According to government sources, the fund helped provide almost 1 lakh of oxygen concentrators and 50,000 ventilators to different states to reinforce public health facilities during the Covid-19 pandemic. Also, over 6 crores of Covid-19 vaccines and 4,000 beds were arranged with the help of the fund during the pandemic.
The fund’s main objective is to provide support to the common people dealing with medical emergencies, natural calamities, man made disasters, and epidemics. It also provides funding for pharmaceutical drug processing and medical equipment.
The members of the PM Cares Fund take responsibility for passing the bills responsible for the financial assistance during an emergency. They are also responsible for investigating whether the situations calling for funding support are authentic.
The PM Cares Fund is a scheme by which individuals and public and private companies can donate voluntarily. It also accepts funding from foreign countries. Donations can be easily made using the PM Care Fund website.
PM Cares Fund account details
According to the running year audit report, the PM Cares Fund accepted funding of Rs.31,000 crores during the coronavirus pandemic.
Out of the total funding of Rs.31,000 crores received, Rs.2,000 crores was donated to government hospitals for the supply of ventilators and oxygen concentrators. About Rs.1,000 crores was used to support migrant workers, and the rest was spent on vaccines and pharmaceutical products.
The PM Cares Fund accepts domestic and foreign donations from individuals and organisations.
Donors can transfer funds using online modes such as net banking, credit/debit cards, SWIFT transfers, NEFT, RTGS, cheques, and drafts.
Donations can be made through UPI payment modes such as Google Pay, Amazon Pay, BHIM, and PhonePe via the UPI id PMCARES@SBI.
Donations through private and public banks are accepted.
Websites such as pmindia.gov.in, pmcares.gov.in and portals of public banks allow donations to be made to the PM Cares Fund.
All contributors get a receipt for donations made using any of the payment methods mentioned above.
Additional facts on the PM Cares Fund
Contributions to the fund are voluntary in form.
The fund does not receive any kind of budgetary support.
It is not inspected by the Comptroller and Auditor-General (CAG) of India and is inspected by independent auditors.
Donations made will qualify for 100% relief and exemption under the Income Tax Act of 1961.
There is a similarity between the Prime Minister’s National Relief Fund (PMNRF) and the PM Cares Fund. Both are exempted from all the provisions of the Foreign Contribution Regulation Act.
Conclusion
Along with the PMNRF, PM Cares Fund was also a successful scheme which got an outstanding response during the Corona Pandemic. It is a public charitable fund that accepts foreign and domestic donations. The aim of this fund is to help the common people during emergencies and for which the people can contribute voluntarily. Thus, the scheme is less political and more likely democratic.
A very small amount (Rs. 10) can be donated to the fund, so a huge population is encouraged to donate. Any individual or organisation can easily transfer the fund using net banking, UPI transfer, Credit or Debit cards, and much more. Thus, this type of scheme should be encouraged further for the sake of public welfare.
