31) PM-CARES Fund

Question 1

Full form ?

Answer 1

PM Citizen Assistance and Relief in Emergency Situations Fund

Question 2

Why was it started ?

Answer 2

To deal with any kind of emergency or distress situation as such posed by COVID-19 pandemic

Question 3

Is it a Public Charitable trust ? If so, who is its chairman ?

Answer 3

Yes,it is a Public charitable trust .
Chairman -PM.
The other members are Defence Min, Home Min, Finance Min

Question 4

What has Min of Corporate Affairs told in this regard ?

Answer 4

Contribution towards this fund will be treated as Corporate Social Responsibility (CSR). It will also avail tax exemptions

Question 5

Which fund is similar to PM-CARES ?

Answer 5

PM National Relief Fund (PMNRF). It was started in 1948 by Nehru to assist displaced persons from Pakistan. Now it is used to tackle problems of natural calamities and some necessary medical treatment

Question 6

Does these funds get budgetary support ?

Answer 6

NOOOOO, only public contributions. But some leftover part of the fund can be used for investments in Scheduled Commercial Banks if necessary. However, this requires PM’s approval