The net voluntary contributions to the PM CARES Fund reduced sharply to ₹912 crore in the fiscal year 2022-23 – the lowest after the fund was launched in March 2020. Set up when the COVID-19 pandemic was just beginning, the Prime Minister’s Citizen Assistance and Relief in Emergency Situations (‘PM CARES’) Fund was aimed to provide relief in emergency situations as well as support to affected citizens.
However, from the audited financial statements of the PM CARES Fund provided on the PM CARES Fund website, total contributions have been highest at ₹7,184 crore in the year 2020-21 during the pandemic. This came down significantly to ₹1,938 crore in 2021-22 and reduced in 2022-23 to the COVID pandemic situation lessened.
The decline in foreign contribution was even steeper. While it reached ₹495 crore in the financial year 2020-21, foreign funds slumped to ₹4 crore in the year 2021-22 and ₹2.57 crore in the year 2022-23. These decreasing contributions result from declining public and International interest in pandemic-based emergencies due to the resolution of the crisis.
For the financial year 2022-23, the total expenditure of the fund was ₹439 crore only. Out of these allocations, ₹346 crore was earmarked for PM CARES for Children, which is meant for children who have lost their parents or legal guardians to COVID-19. Moreover, ₹ 92 crore was spent on the import of oxygen concentrators, which is one of the decisive tools of the government in the fight against the oxygen shortage during the pandemic.
The PM CARES Fund has the structure of a public charitable trust; however, the Prime Minister of India acts as an ex-officio chairman. It is a voluntary fund that does not involve government budgetary support; all its funding comes from donations.
It has imparted a huge role since its development in boosting emergency care strategies like having oxygenated plants and procuring ventilators for hospitals across the nation, proving its preparedness for distress complex situations like COVID-19.
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