PM CARES Fund – Prime Minister’s Citizen Assistance & Relief in Emergency Situation Fund
The Prime Minister’s Citizen Assistance and Relief in Emergency Situations Fund (PM CARES Fund) was created on 28 March 2020, following the COVID-19 pandemic in India. The proclaimed purpose of the fund is for combating, containment and relief efforts against the corona-virus outbreak and similar pandemic like situations in the future.
- To provide relief and assistance to any kind of situation relating to a public health emergency or any other kind of emergency, calamity or distress, either man-made or natural.
- Creation or up gradation of healthcare or pharmaceutical facilities, and other necessary infrastructures if needed during the corona-virus outbreak and other emergency situations.
- To provide funding to the research and development.
- To render financial assistance, provide grants of payments of money to the affected population if considered necessary by the Board of Trustees.
Constitution of Board of Trustees
Prime Minister is the ex-officio Chairman of the PM CARES Fund and Minister of Defense, Minister of Home Affairs and Minister of Finance, Government of India are ex-officio Trustees of the Fund.
The Chairman (prime minister) of the Board of Trustees shall have the power to nominate three trustees to the Board of Trustees who shall be eminent persons in the field of research, health, science, social work, law, public administration and philanthropy.
Details of PM CARES Fund
- The fund consists entirely of voluntary contributions from individuals/organizations and does not get any budgetary support from the government. The fund will be utilized in meeting the objectives as stated above.
- Donations to PM CARES Fund by the individuals and organization would qualify for 100% tax exemption under 80G of the Income Tax Act, 1961 and counted as Corporate Social Responsibility (CSR) expenditure under the Companies Act, 2013 respectively.
- To enable PM CARES Fund to accept donations and contributions from individuals and organizations based in foreign countries a separate account has been opened. This is consistent with respect to the Prime Minister’s National Relief Fund (PMNRF). PMNRF has also received foreign contributions as a public trust since 2011.
- PM CARES Fund is not a Public Authority under the ambit of Section 2(h) of the RTI Act, 2005. However, relevant information in respect of PM CARES Fund can be seen on the Website pmcares.gov.in.
Not just the PM CARES Fund, there are other similar existing charitable trusts available in India created by Indian Government.
Prime Minister National Relief Fund (PMNRF), is one of them which was created in 1948 by Pandit Jawahar Lal Nehru. It was instituted to assist displaced persons from the neighbour country Pakistan during partition of India.
The funds of PMNRF are now used to tackle natural calamities like earthquakes, floods, and cyclones. Also, to help the needy with major medical treatment like cancer, kidney transplantation, acid attack, etc.
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