PM CARES Fund: Donations drop, interests accrue, utilisation abysmal

Mr. Jindal
1 Min Read

The Newly Installed Oxygen Generation Plant, most of the equipments are funded by PM Cares fund at Rajiv Gandhi Super Speciality Hospital, Tahirpur in New Delhi on Saturday, August 28, 2021.

The Newly Installed Oxygen Generation Plant, most of the equipments are funded by PM Cares fund at Rajiv Gandhi Super Speciality Hospital, Tahirpur in New Delhi on Saturday, August 28, 2021.
| Photo Credit: MOORTHY RV

The audited financial statements of Prime Minister’s Citizen Assistance and Relief in Emergency Situations (PM-CARES) Fund, released together on Tuesday for the financial years of 2023-24 and 2024-25 after a delay of two years, showed that while donations have dropped the utilisation of available funds was abysmally low.

The corpus grew by 25.8% between 2022-23 and 2024-25 from ₹ 6,722 crore to ₹ 8,453 crore. However, in the same period, the utilisation dropped from ₹437.9 crore to just ₹87.5 lakh, which was just 0.01% or 10,000 times smaller than the available corpus.

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