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Government

PM CARES Fund Garnered Rs 912 Crore Donations in Post-Pandemic FY 2022-23

The PM CARES Fund was officially registered in New Delhi on March 27, 2020, just days after the nationwide Covid-19 lockdown began.

PM CARES Fund Garnered Rs 912 Crore Donations in Post-Pandemic FY 2022-23

Prime Minister Narendra Modi and the logo of PM CARES Fund (Bill Graphics).

The Prime Minister’s Citizen Assistance and Relief in Emergency Situations Fund (PM CARES Fund) garnered contributions totalling Rs 912 crore during the financial year 2022-23, reflecting a steady inflow of donations even after the Covid-19 pandemic.

These contributions included Rs 909.64 crore in voluntary donations and Rs 2.57 crore from foreign sources, as per the latest audited accounts available on the official website.

In addition to these donations, the fund earned Rs 170.38 crore in interest income, with Rs 154 crore derived from regular accounts and Rs 16.07 crore from the foreign contributions account.

A refund of approximately Rs 225 crore was also received, primarily Rs 202 crore refunded from the procurement of 50,000 'Made in India' ventilators supplied to government hospitals operated by the Centre, states, and Union Territories.

On the expenditure front, the PM CARES Fund disbursed Rs 439 crore during 2022-23. This included Rs 346 crore for the PM CARES for Children initiative, Rs 91.87 crore for procuring 99,986 oxygen concentrators, Rs 1.51 crore as refunded contributions, Rs 24,000 for legal charges, and Rs 278 for bank and SMS-related charges.

By the close of the 2022-23 fiscal year, the fund's balance stood at Rs 6,284 crore, a 16% increase compared to Rs 5,416 crore at the end of 2021-22. This was slightly lower than the Rs 7,014 crore recorded at the end of 2020-21 but significantly higher than the Rs 3,077 crore balance at the end of 2019-20.

Over the four-year period from 2019-20 to 2022-23, the PM CARES Fund accumulated Rs 13,605 crore, comprising Rs 13,067 crore from voluntary contributions and Rs 538 crore from foreign donations. The fund also earned Rs 565 crore in interest income during this time.

Established as a Public Charitable Trust under the Registration Act, 1908, the PM CARES Fund was officially registered in New Delhi on March 27, 2020, just days after the nationwide Covid-19 lockdown began.

Its primary purpose is to address emergencies and distress situations, such as the COVID-19 pandemic, and to provide relief to affected individuals.

The Prime Minister serves as the ex-officio chairman of the PM CARES Fund, while the Defence Minister, Home Minister, and Finance Minister act as ex-officio trustees.

Additionally, Justice K. T. Thomas (Retd.) and Kariya Munda have been appointed as trustees by the Prime Minister, who chairs the Board of Trustees.

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