Indian government started the Prime Minister’s Citizen Assistance and Relief in Emergency Situations Fund, also known as PM CARES Fund. It was started on 27 March 2020 to combat the COVID-19 pandemic situation in India.
The fund will be used for containment and relief efforts against the coronavirus outbreak. Here we will know about PM Cares fund account details.
These pm cares account funds would also be used for a similar situation in the future. The documentation for the constitution of the fund has not been made public but the Government of India has stated that the Prime Minister of India, Narendra Modi, is the chairman of the fund.
The Minister of Defence Rajnath Singh, Minister of Home Affairs, Amit Shah, and Minister of Finance, Nirmala Sitharaman are the trustees of PM CARES Funds apart from others.
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Establishment of PM Cares Fund
PM Cares Fund Account Details: The documentation in this regard was not released to the public until December 2020, i.e., almost 9 months after the fund was established in March 2020.
Government Officials have described the Fund as a “public charitable trust.” The deed of establishing the trust was registered on 27 March 2020.
In June 2020, in reply to an application for the disclosure of the founding document of trust, the Prime Minister’s Office stated that the Fund is not a “public authority.” The government officials declined to provide any documentation instead of transparency laws such as the Right to Information Act 2005.
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However, in December 2020, a trust deed of the Fund was posted on its website. Though the Fund has a national emblem and uses government infrastructure, it is a private entity.
PM Cares Funds does not provide any clarity on whether it is a public body that is subject to transparency laws and mandatory audits or a private body that has a complete exemption from scrutiny by representative bodies.
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Legal Status of PM Cares Fund
PM Cares Fund Account Details: When the PM Cares Fund was registered it was registered as a Public Charitable trust. On 27th March 2020, the trust deed of PM CARES Fund was registered under the Registration Act, 1908, in New Delhi.
PM Cares faced a long campaign for transparency. Finally, the government of India disclosed documentation in December 2020. As per the document presented for PM Cares Funds, it was a Trust Deed.
The funds described in it were private trusts which stated that “The trust is neither intended to be or is owned, controlled or substantially financed by any government or any other government body.”
However, the statement was contradicted by the government of India after a few weeks. As per the formal response given to RTI, it stated that the Fund was owned by, controlled by and established by the government of India.
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Despite being the Government of India fund, the government has denied providing any information about the funds as per India’s Transparency Law, the Right to Information Act 2005.
The law applies to all public bodies. However, in December 2020, the government of India stated that the PM Cares Fund was a private body but not a public body.
Instead of the same, an application was sent to question the use of the national emblem of India in the documentation of funds. Since it is a private entity, it is illegal to use the national emblem. The application was prosecuted for the usage of the national emblem on the PM Cares Fund Documentation.
The Government of India, in response, has asserted that it is a public body, controlled by the Government of India, but is still not subject to transparency laws like the RTI Act.
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Tax Exemptions for PM Cares Fund
In April 2020, the Government of India has to exempt all the donations made to the fund before June 30th thus it would allow them to qualify for the tax deduction under section 80G. This clause is a part of the Income-tax Act, of 1961.
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Corpus in PM Cares Fund
PM Cares Fund has not publicly disclosed the total amount donated to PM Cares Fund. In September 2002, the PM Cares Funds website stated that the total amount donated to the fund between 27 March 2020 and 31 March 2020 was ₹30.76 billion. However, the names and identities of the donors are not disclosed.
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Voluntary Donations in PM Cares Fund
PM Cares Fund Account Details: Many high-profile people from celebrities to athletes, actors and corporations have pledged to support PM Cares Fund. Apart from these celebrities, many public sector undertakings have pledged to support the Fund.
Not only these people but government officials have pledged to support PM Cares Funds. They have stated that they would give part of their salaries.
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However, this is controversial as there has been a circular to government officials sent which mandated to make such donation. Private sector corporations have pledged support.
The private sector giants include Larsen & Toubro, Infosys Foundation, the Adani Foundation, Reliance Industries, the Hero Group, the TATA Trust, Paytm and the Azim Premji Foundation.
Apart from the private sector, individuals such as Akshay Kumar, Deepika Padukone, Ranveer Singh, Shah Rukh Khan, and producer Karan Johar have pledged to support PM CARES.
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Foreign Donations in PM Cares Fund
India has a fifteen-year-old policy of not accepting foreign aid in cases of disasters and calamities. But not Government of India announced that it would be discarding the policy to accept foreign donations to the PM CARES Fund.
The Funds have not only received pledges for support from inside the country but also from outside the country including Russia’s State-owned defence exports company Rosoboronexport.
Indian embassies for China and Pakistan stated on their social media handle that they have provided donations to the fund. An RTI was filed in January 2021, to seek information about whether the Fund had received donations from Pakistan and China.
In response to RTI, the High commissions in Pakistan and China have accepted soliciting donations but confirmed that they had not personally solicited donations.
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Transfer Of Funds Others
In August 2020, petitions were filed under the Right to Information Act 2005. The petition was filed by the Indian Express to 32 public sector undertakings (PSUs) in India.
The petition indicated that a total of INR 21050 million was credited to PM Cares Funds. The primary source was the corporate social responsibility budget allocated for the years 2019-20 and 2020–21.
A petition for the same information was made to the Prime Minister’s office. But the petition was denied. The Government of India stated that the Fund was not a public authority. The PM Cares Funds did not have to be accounted for the funds under the Right to Information Act.
In December 2020, the Indian Express indicated that INR 2,400 crore (US$340 Million) was transferred from almost 101 public sector units. Another INR 155 crore (US$22 million) from staff salaries was transferred to the PM CARES Fund.
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PM Cares Funds From the Indian Military
In March 2020, one of the trustees Minister of Defence released a statement in this regard. The statement stated that it would encourage military personnel to donate one day’s salary to the PM CARES Fund.
The aim was to collect around INR 500 crore (US$70 million) through different donations. PM Cares have been supplying oxygen and medicines. We do not know the status of the trust, public or private.
We hope PM Cares helps all the people in need during this pandemic situation and any such unforeseen situation in the future.
PM Cares Fund Total Collection
30,76,62,56,047.00 Till 31st March 2020.
PM Cares Fund: FAQ
How to donate to PM Cares fund online
1. Visit pmindia.gov.in
2. Click on “Click Here For Donation Details”
3. You can also use a QR code-generated
4. Click the box and proceed
5. Select “Donation” in the payment category drop-down. Submit the online form and click submit once filled.
6. Confirm your details in the confirmation screen
7. Select the payment options that appear. Select the option suitable to you and Click on the “Click Here” option.
8. Complete your payment. you will be redirected to the invoice page and you have done your part.
What is the PM Cares Fund Total Collection
30,76,62,56,047.00 Till 31st March 2020.
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