The PM CARES Fund
Governance · Wednesday, 19 August 2026
The PM CARES Fund released delayed FY 2023-24 and 2024-25 audited statements showing expenditure of just ₹87.85 lakh in FY25 against income of ₹1,279.9 crore and a closing balance of ₹8,452.06 crore. The fund is a public charitable trust for emergency relief during health crises, calamities and disasters.
Quick highlights
- PM CARES registered on March 27, 2020 as public charitable trust.
- FY25: income ₹1,279.9 crore, expenditure ₹87.85 lakh, closing balance ₹8,452.06 crore.
- Chaired by Prime Minister with Defence, Home and Finance Ministers as ex-officio trustees.
- 100% tax exemption under Section 80G; eligible for CSR spending.
- Accepts voluntary contributions including foreign donations under FCRA exemption.
- Purpose: relief during public health emergencies, natural calamities and disasters.
Context
The PM CARES Fund released its delayed FY 2023-24 and 2024-25 audited statements, showing expenditure of just ₹87.85 lakh in FY25, against ₹1,279.9 crore income and an ₹8,452.06 crore closing balance.
Key Facts
Established March 27, 2020 under Registration Act, 1908. Trustees: PM (ex-officio Chair), Defence, Home and Finance Ministers plus nominated members serving pro bono. No government budgetary support; entirely voluntary contributions. 100% tax exemption u/s 80G, CSR eligible and FCRA-exempt foreign contribution account. Objective: emergency relief, healthcare infrastructure and research during crises.
Significance
The fund was created for rapid, flexible response to unforeseen emergencies such as COVID-19. Low FY25 utilisation despite large corpus highlights issues of timely deployment during non-crisis periods.
Challenges / Way Forward
Challenges include transparency in utilisation and timely deployment for intended relief. Way forward: regular and timely audit disclosures, clear guidelines for ongoing vs emergency use and greater synergy with existing government schemes.
Exam Angle
GS Paper II – Governance: statutory bodies, transparency and accountability of public trusts. Prelims: establishment date, trustees, tax benefits, difference from PMNRF.
Remember this
- PM CARES registered: March 27, 2020.
- FY25 income: ₹1,279.9 crore; expenditure: ₹87.85 lakh.
- Closing balance FY25: ₹8,452.06 crore.
- Ex-officio trustees: PM, Defence, Home and Finance Ministers.
- 100% deduction u/s 80G and eligible for CSR.
- Accepts foreign contributions under FCRA exemption.