PM CARES Fund sees drop in donations, spending

In the financial year 2024-25, the Prime Minister's Citizen Assistance and Relief in Emergency Situations Fund (PM CARES Fund) experienced a decrease in total contributions. The fund's closing balance reached an all-time high of Rs 8,452.06 crore, marking a 17.83 percent increase from the previous year's closing balance of Rs 7,173.03 crore.

Despite the rise in the closing balance, spending on the fund fell to a five-year low of Rs 87.85 lakh, with a significant portion allocated to the PM CARES for Children Scheme and bank charges. The fund received contributions from both domestic and foreign sources, with domestic donations accounting for Rs 479.04 crore and foreign donations amounting to approximately Rs 92 lakh.

The majority of the fund's income came from interest on investments, tax refunds, and refunds from implementing agencies, with total spending on the fund decreasing significantly compared to previous years.