PM Cares Fund Surpasses ₹8,400 Crore Mark by FY25, Audit Reveals

The Prime Minister’s Citizen Assistance and Relief in Emergency Situations Fund, popularly known as the PM Cares Fund, reported a significant corpus of ₹8,452 crore by the close of the financial year 2024-2025, according to an audit released recently. This update sheds light on the fund’s financial health and its operations during a critical period marked by ongoing recovery efforts from the COVID-19 pandemic.

In the financial year 2024-25 alone, the PM Cares Fund received an influx of over ₹1,270 crore from various sources, including both domestic and international donations, interest accrued from deposits, and refunds from implementing agencies. Remarkably, close to 93% of the total funds available at the end of this fiscal year were secured in fixed deposits, underscoring a conservative financial strategy aimed at stabilizing the fund’s resources for future emergencies.

Despite the substantial growth in its corpus – which was pegged at ₹7,173 crore at the conclusion of the previous fiscal year – the PM Cares Fund has faced scrutiny from opposition parties and watchdog groups. Critics have raised concerns regarding the fund’s transparency, questioning the rationale behind its establishment when the Prime Minister’s National Relief Fund, created in 1948, already existed to provide immediate assistance in times of crisis.

The audit, conducted on August 6 and finalized the following day, also highlighted the fund’s expenditures, which totaled ₹87.8 lakh, primarily directed towards the PM Cares for Children Scheme. This initiative is designed to support children who have been impacted by the pandemic, further reflecting the fund’s commitment to addressing the unforeseen consequences of COVID-19 on vulnerable populations.

Launched in March 2020, the PM Cares Fund was established with the aim of creating a dedicated fund to handle emergencies and distress situations, particularly in the wake of the devastating effects of the pandemic. As the nation continues to navigate the challenges posed by health crises, the fund’s role remains crucial in enabling timely responses and providing assistance where it is most needed.

Source: scroll.in