Prime Minister's Citizen Assistance and Relief in Emergency Situations Fund (PM CARES Fund)

About PM CARES Fund:

• It was created on March 28, 2020, following the COVID-19 pandemic in India. 
• It was set up to have a dedicated national fund to deal with any emergency and provide relief to the distressed.
• Fund Constitution:
  • It has been registered as a Public Charitable Trust.
  • The Prime Minister is the ex-officio Chairman of the PM CARES Fund, and the Minister of Defence, Minister of Home Affairs, and Minister of Finance of the Government of India are ex-officio Trustees of the Fund.
  • The Chairperson of the Board of Trustees (Prime Minister) shall have the power to nominate three trustees to the Board of Trustees who shall be eminent persons in the fields of research, health, science, social work, law, public administration, and philanthropy.
  • Any person appointed a Trustee shall act in a pro bono capacity.
• Objectives:
  • 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 upgradation of healthcare or pharmaceutical facilities, other necessary infrastructure, funding relevant research, or any other type of support.
  • To render financial assistance, provide grants of payments of money, or take such other steps as may be deemed necessary by the Board of Trustees for the affected population.
  • To undertake any other activity which is not inconsistent with the above objectives.
• Fund Finance:
  • The fund consists entirely of voluntary contributions from individuals/organisations and does not receive any budgetary support.
  • Donations to PM CARES Fund would qualify for 80G benefits for 100% exemption under the Income Tax Act, 1961.
  • Donations to the PM CARES Fund will also qualify to be counted as Corporate Social Responsibility (CSR) expenditure under the Companies Act, 2013
  • PM CARES Fund has also got an exemption under the Foreign Contribution Regulation Act(FCRA), and a separate account for receiving foreign donations has been opened. 
    • This enables the CARES Fund to accept donations and contributions from individuals and organisations based in foreign countries.