PM CARES FUND allocates Rs. 3100 Crore for COVID-19 Relief

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PM CARES Fund Trust Allocates Rs. 3100 Crore for Fight against COVID-19: This is for the first time fund has been allocated from the PM CARES FUND to fight against COVID-19 outbreak. This includes allocation of Rs. 1,000 crore for migrant workers.

COVID-19, a highly contagious disease has spread to the entire world. In India too this pandemic is posing a severe health hazard, which requires the entire nation to stand together. Keeping in mind the need for having a dedicated national fund with the primary objective of dealing with any kind of emergency or distress situation, like posed by the COVID-19 pandemic, and to provide relief to the affected, a public charitable trust under the name of ‘Prime Minister’s Citizen Assistance and Relief in Emergency Situations Fund’ (PM CARES Fund)’ has been set up.

The Prime Minister's Citizen Assistance and Relief in Emergency Situations Fund (PM CARES Fund) was created on 27th March 2020 following the COVID-19 pandemic in India. This dedicated national fund has been set up with the primary objective of dealing with any kind of emergency or distress situation as posed by the COVID-19 pandemic, and to provide relief to the affected people.

PM CARES Fund accepts voluntary contributions by individuals/organizations as well as contributions as part of CSR from Companies/Public Sector Undertakings (PSUs). However, contributions flowing out of budgetary sources of the PSUs are not accepted.

However, the total collection in the Fund as on date is not yet disclosed.

PM CARES (Prime Minister’s Citizen Assistance and Relief in Emergency Situations) Fund Trust today decided to allocate Rs. 3100 Crore for fight against COVID-19. Out of Rs 3100 crore, a sum of approximately Rs. 2000 crore will be earmarked for the purchase of ventilators, Rs. 1000 crores will be used for care of migrant labourers and Rs. 100 crores will be given to support vaccine development

Details of allocation of Fund
Heads
Amount 
Purchase of 50,000 ‘Made in India’ ventilators
Rs. 2,000 crore
Welfare of the migrants and poor workers
Rs. 1,000 crore
Towards development of COVID-19 vaccine
Rs. 100 crore
Total
Rs. 3,100 crore

The trust formed on 27th March 2020 is headed by Hon’ble Prime Minister (ex-Officio) and other ex-officio Members of the trust are Defence Minister, Home Minister and Finance Minister. While announcing this package, the Prime Minister has thanked all the donors for their generosity in contributing to the PM CARES Fund which will support India’s fight against COVID-19

a) 50,000 Ventilators

For augmenting the infrastructure to tackle COVID-19 cases across the country, 50,000 ‘Made-in-India’ ventilators will be purchased from PM CARES Fund at a cost of approximately Rs. 2000 Crores. These ventilators will be provided to government run COVID hospitals in all States/UTs,for better treatment of the critical COVID-19 cases.

b) Relief Measures for Migrants

For strengthening the existing measures being taken for the welfare of the migrants and poor, the States/UTs will be given a lumpsum assistance of total Rs. 1000 Crore from PM CARES Fund. This amount would be provided to the State Governments/UTs to place it at the disposal of the District Collectors/Municipal Commissioners for strengthening their efforts in providing accommodation facilities, making food arrangements, providing medical treatment and making transportation arrangements of the migrants. State/UT-wise funds will be released on the weightage of (a) Population of the State/UT as per 2011 Census – 50%, weightage (b) Number of positive COVID-19 cases as on date – 40% weightage and (c) Equal share (10% weightage) for all states/UTs to ensure basic minimum sum for all states. The fund will be released to the District Collector/District Magistrate/Municipal Commissioner through the State Disaster Relief Commissioner of the States/UTs concerned.

c) Vaccine Development

A vaccine against COVID-19 is the most pressing need and Indian academia, start-ups and industry have come together in cutting-edge vaccine design and development. To support the COVID-19 vaccine designers and developers, an amount of Rs. 100 Crore will be given from PM CARES Fund as a helping hand to catalyse vaccine development, which will be utilized under the supervision of the Principal Scientific Advisor.

It should be remembered that donation to PM CARES FUND is eligible for 100% deduction under section 80G of the Income Tax Act, 1961.

Further, contribution to this fund also entitles a corporate to claim the same as expenditure towards its CSR activities.

PM CARES FUND also accepts micro-donation. One can contribute to the Fund as per steps and procedures detailed here.

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