PM-Care Fund
Figure 1: No Copyright Infringement Intended
Context:
- According to an audit, only 1/3rd of PM Care fund was spent.
Finding of audit:
- The PM CARES Fund collected Rs. 10,990 crore since its inception in March 2020 until March 2021.
- It spent Rs. 3,976 crore during the 2020-21 financial year.
- In the financial year 2020-21, it received voluntary contributions from domestic donors to the tune of Rs. 7,184 crore and foreign contributions amounting to Rs. 494 crore.
Expenditure:
- The largest disbursal of Rs. 1,393 crore went to purchase 6.6 crore doses of COVID-19 vaccines.
- 1,311 crore was used to buy 50,000 Made in India ventilators for use in Central and State government hospitals.
- 201 crore spent on installing 162 Pressure Swing Adsorption medical oxygen generation plants inside public health facilities.
- 50 crore to establish two makeshift COVID hospitals in Muzaffarnagar and Patna with 500 beds each.
- 20 crore was used to upgrade two autonomous institute laboratories under the Department of Biotechnology as Central Drug Laboratories to test and release batches of the COVID vaccine.
About PM-Cares:
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Created |
Established on 27th March 2020 |
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Objective |
· To help people affected by the Covid 19 Pandemic · To render financial assistance, provide grants of payments of money · To undertake and support relief or assistance of any kind relating to a public health emergency or any other kind of emergency, calamity or distress, either man-made or natural, including the creation or upkeep of healthcare or pharmaceutical facilities |
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Board Structure |
· Chairman: Prime Minister · Other Members: Home Minister , Defence Minister and Finance Minister · Prime Minister shall have the power to nominate 3 trustees to the Board of Trustees who shall be the eminent persons in the field of research, science, health, social work, public administration law, and philanthropy. |
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Financing |
· It can’t receive funds through government budgetary support. · Consists entirely of voluntary contributions from individuals/organizations. |
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Administration |
· on an honorary basis by a Joint Secretary (Administration) in the PMO as Secretary to the fund. · assistance on honorary basis by an Officer of the rank of Director/Deputy Secretary (Administration) in the PMO. · The Prime Minister’s Office provides such administrative and secretarial support to the Trustees for the management and administration of the Trust |
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Other Details |
· Donations to PM CARES Fund qualifies for 80G benefits for 100% exemption under the Income Tax Act, 1961. · Donations to PM CARES Fund also qualifies to be counted as Corporate Social Responsibility (CSR) expenditure under the Companies Act, 2013
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FCRA (Foreign Contribution Regulating Act) status |
· Got exemption under the FCRA · A separate account for receiving foreign donations has been opened. · Can accept donations and contributions from individuals and organizations based in foreign countries. |
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Auditing |
· Independent Auditor · no statutory period prescribed for audit of the PM CARES under Income Tax Act. However, audit will be conducted at the end of the Financial Year.
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