New Delhi: The balance of the Prime Minister’s Citizen Assistance and Relief in Emergency Situations (PM CARES) Fund increased to Rs 8,452.95 crore in the 2024-25 financial year, up from Rs 7,173 crore in 2023-24, according to its recently released audit report.
The fund was set up in March 2020 to enable swift relief during disasters such as the COVID-19 pandemic. It is managed by the Union government and receives contributions from the public as well as government bodies, private firms and large corporates.
The audit report notes that Rs 6,641 crore was kept as deposits, generating interest income of Rs 475 crore. This interest earnings helped raise the overall balance by adding income on existing funds.
At the same time, domestic donations declined to Rs 479.05 crore in 2024-25 from Rs 681.81 crore in 2023-24. Foreign contributions also fell from Rs 11.35 lakh to Rs 9.28 lakh.
The report further states that only Rs 87.85 lakh was spent from the fund for support such as education and medical insurance for children who lost parents during the COVID-19 period, while the overall balance still rose mainly due to interest income.
