PM CARES Fund
About PM CARES Fund:
- Prime Minister’s Citizen Assistance and Relief in Emergency Situations Fund (PM CARES Fund) is set up as a public charitable trust under the Registration Act, 1908 in 2020.
- It is not created under the Constitution or any law made by the Parliament or the state
- The fund is administered on an honorary basis by Additional Secretary/ Joint Secretary, in charge of the PM CARES Fund in the PMO.
- The Prime Minister’s Office provides administrative and secretarial support to the Trustees .
- The fund consists entirely of voluntary contributions from individuals/organizations and does not get any budgetary support.
- Donations to PM CARES Fund would qualify for 80G benefits for 100% exemption under the Income Tax Act, 1961.
- Donations to 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 exemption under the FCRA and a separate account for receiving foreign donations has been opened.
- PM CARES Fund accepts donations and contributions from individuals and organizations based in foreign countries.
- This is consistent with respect to Prime Minister’s National Relief Fund (PMNRF). PMNRF has also received foreign contributions as a public trust since 2011.
- PM CARES Fund is audited by an independent auditor
- The Head Office of the Fund is Prime Minister’s Office, New Delhi.
Constitution of the Trust :
- Prime Minister is the ex-officio Chairman of the PM CARES Fund
- Minister of Defence, Minister of Home Affairs and Minister of Finance, Government of India are ex-officio Trustees of the Fund.
- Any person appointed a Trustee shall act in a pro bono capacity.
- 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,
- 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 to the affected population.
Source: Indian express
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