New Delhi, September 2
The PM CARES Fund, arrange in March to take care of emergency conditions just like the COVID-19 pandemic, acquired Rs 3,076.62 crore in simply 5 days of its formation, as per an account assertion made public by the fund on Wednesday.
The ‘receipt and payment account’ confirmed practically Rs 3,075.85 crore as ‘voluntary contributions’, whereas Rs 39.67 lakh got here as overseas contributions.
It put the fund’s closing stability as on March 31, 2020 at Rs 3,076.62 crore, after together with curiosity earnings and deducting service tax on foreign exchange conversion.
The fund began with an preliminary corpus of Rs 2.25 lakh, as per the account assertion posted on the fund’s official web site.
It additionally referred to “accompanying notes to the financial statements”, however these weren’t made public on the web site.
According to particulars posted on the web site of the ‘Prime Minister’s Citizen Assistance and Relief in Emergency Situations Fund (PM CARES Fund)’, the fund consists “entirely of voluntary contributions from individuals/organisations and does not get any budgetary support”.
“During 2019-20 (from March 27-31, 2020), an amount of Rs 3076.62 crore has been collected under PM CARES Fund,” it mentioned.
It additional mentioned this fund has been arrange as a public charitable belief “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”.
The fund generated quite a lot of curiosity instantly after Prime Minister Narendra Modi introduced its formation within the final week of March after the COVID-19 outbreak and appealed for donations, prompting a number of non-public companies, authorities our bodies and people, together with celebrities, to donate cash.
The fund’s targets embrace enterprise and supporting aid or help of any type regarding a public well being emergency or another type of emergency, calamity or misery, both man-made or pure, together with the creation or upgradation of healthcare or pharmaceutical amenities, different vital infrastructure, funding related analysis or another sort of help, based on its web site.
The authorities has used part of the cash to purchase medical tools, together with ventilators, to spice up the battle in opposition to the COVID-19 and has additionally offered aid to migrants.
Opposition events have, nonetheless, criticised the fund, claiming that its contributions and bills usually are not clear, a cost denied by the federal government.
Reacting to the account assertion of the fund, Congress chief P Chidambaram mentioned the auditors of the fund have confirmed that the fund acquired Rs 3,076 crore in simply 5 days, however the “names of these generous donors will not be revealed”.
“Every other NGO or Trust is obliged to reveal the names of donors contributing more than a threshold amount. Why is the PM CARES Fund exempt from this obligation,” he tweeted.
“The donee is known. The trustees of the donee are known. Why are the trustees afraid to reveal the names of the donors?” Chidambaram mentioned.
Last month, the Supreme Court had refused to direct the switch of contributions made to the PM CARES Fund to the National Disaster Response Fund (NDRF).
The high court docket had additionally dominated that at this want of the hour no exception could be taken to the structure of a public charitable belief PM CARES Fund to have vital monetary assets to fulfill the emergent scenario, including this fund and the NDRF had been completely totally different funds with separate object and function.
While Prime Minister is the ex-officio Chairman of the PM CARES Fund, the Minister of Defence, Minister of Home Affairs and Minister of Finance are its ex-officio trustees.
The chairperson (Prime Minister) has the facility to appoint three trustees to the board of trustees, who could be eminent individuals within the discipline of analysis, well being, science, social work, legislation, public administration and philanthropy.
Also, any individual appointed a trustee will act in a professional bono capability. PTI