Voluntary contributions to the PM CARES Fund fell to Rs 912 crore in the fiscal year 2022-23, the lowest since its establishment in March 2020 in response to the COVID-19 pandemic. The fund was established to provide emergency assistance during the COVID-19 pandemic.
According to audited statements available on the PM CARES Fund website, contributions peaked at Rs 7,184 crore in 2020-21, amid the height of the pandemic, before falling to Rs 1,938 crore in 2021-22. The decline continued in 2022-23 as the COVID-19 threat receded. The statements reveal that foreign contributions have also seen a sharp decline, dropping from Rs 495 crore in 2020-21 to just Rs 2.57 crore in the last fiscal year.
Despite the drop in contributions, the PM CARES Fund continued to utilize its resources effectively. In the fiscal year 2022-23, the fund spent approximately Rs 439 crore. Of this, Rs 346 crore was directed towards the “PM Cares for Children” initiative, aimed at supporting children who lost their parents or guardians to the pandemic. Additionally, nearly Rs 92 crore was allocated for the purchase of oxygen concentrators to meet healthcare demands during the crisis.
The PM CARES Fund, created by the Narendra Modi government, is a public charitable trust designed to address emergencies and provide relief in distress situations. It has been entirely supported by voluntary contributions and does not receive any budgetary funding. The Prime Minister serves as the ex-officio chairman of the trust.
Over the years, the fund has been instrumental in funding essential infrastructure, including the establishment of oxygen plants and the procurement of ventilators for hospitals across the country. In the fiscal year 2021-22, the fund allocated Rs 1,703 crore for pressure-swing adsorption oxygen plants and Rs 835 crore for ventilators.
(With PTI Inputs)