2 weeks ago
Audit Shows PM CARES Fund Corpus at Rs 8,452 Crore
The PM CARES Fund is a special money box that the Prime Minister of India runs to help people during big emergencies.
A new audit report shows the fund now has 8,452 crore rupees, which is a very, very large amount of money.
But in the last year, the fund spent only about 87.8 lakh rupees, which is a tiny amount compared with all the money it holds.
Most of the money, about 93 out of every 100 rupees, is kept safe in bank fixed deposits.
Those deposits helped the fund earn about 469 to 475 crore rupees in interest, without anyone making new donations.
A woman named Anjali Bhardwaj looked at the report and asked why so much money is just sitting unused.
She also wants to know why companies returned 324 crore rupees to the fund and where all the money came from.
The government says the fund does not have to answer questions under the RTI law, which normally lets people ask the government for information.
Some people think the fund should be more open, while others say saving money for future emergencies is sensible.
The fund was started in March 2020, during the Covid-19 pandemic, to help in emergencies.
PM CARES Fund's corpus stood at Rs 8,452 crore at the end of FY 2024-25, up from Rs 7,173 crore at the end of FY 2023-24.
The fund spent only about Rs 87.8 lakh during FY 2024-25, mainly on the PM CARES for Children Scheme, after spending about Rs 15.6 crore in the previous year.
Nearly 93% of the corpus was held in fixed deposits, earning the fund around Rs 469-475 crore in interest during the year.
The fund received over Rs 1,270 crore in FY 2024-25 from domestic and foreign donations, interest and refunds, including Rs 324.66 crore refunded by implementing agencies.
Activist Anjali Bhardwaj said only 0.01% of the corpus was utilised and questioned why the fund, which remains outside the RTI Act, keeps such large sums idle.
- Who
- The PM CARES Fund, a public charitable trust chaired by the Prime Minister with the Defence, Home and Finance Ministers as ex-officio trustees; social activist Anjali Bhardwaj and Opposition parties raised questions about its accounts.
- What
- Audited accounts show the fund's corpus rose to a record Rs 8,452 crore by the end of FY 2024-25, up from Rs 7,173 crore, while spending fell to about Rs 87.85 lakh and nearly 93% of funds lay in fixed deposits.
- Where
- India.
- When
- Financial year 2024-25; the accounts were audited on August 6, signed on August 7, 2026, and made public around August 17-18, 2026.
- Why
- Activists and Opposition parties question the fund's low utilisation, idle corpus and exemption from the RTI Act, calling for greater transparency.
Activists and Opposition Parties
Union Government
RTI coverage of the fund
Activists and Opposition Parties
Anjali Bhardwaj says the fund is 'shrouded in secrecy' and continues to 'evade public scrutiny' by refusing to submit to the RTI Act, which should apply to it.
Union Government
The government says the fund is not covered by the RTI Act because it receives private funds, and told the Delhi High Court in September 2021 that it is neither 'the state' nor a 'public authority.'
Keeping large sums idle
Activists and Opposition Parties
Bhardwaj asked why the fund keeps such large sums idle when only 0.01% of the corpus was utilised, and demanded details on the Rs 324 crore refunded by implementing agencies and the accompanying notes to the accounts, which were not made public.
Union Government
The fund was created as a dedicated national reserve to deal with 'any kind of emergency or distress situation' following Covid-19, implying the corpus is retained for future emergencies.
Need for a separate fund
Activists and Opposition Parties
Opposition parties question the need for the fund when the Prime Minister's National Relief Fund, set up in 1948, already existed.
Union Government
The fund was established in March 2020 with the stated objective of being a dedicated national fund for emergencies in the aftermath of the Covid-19 pandemic.
Key facts
- Corpus at end of FY 2024-25
- Rs 8,452.07 crore (record high)
- Corpus at end of FY 2023-24
- Rs 7,173 crore
- Expenditure during FY 2024-25
- Rs 87.85 lakh, mainly for PM CARES for Children Scheme
- Share held as fixed deposits
- Nearly 93% (around Rs 7,846.65 crore); one report cites Rs 6,641 crore
- Interest earned in FY 2024-25
- About Rs 469-475 crore from fixed deposits
- Refunds from implementing agencies
- Rs 324.66 crore
- Domestic and foreign donations in FY 2024-25
- Rs 479.04 crore and Rs 92.83 lakh respectively
- Established
- March 2020, during the Covid-19 pandemic
Quotes
Prime Minister
Chairman and ex‑officio trustee of PM CARES Fund
“"The PM CARES Fund is a public charitable trust set up to handle severe emergencies like the COVID-19 pandemic."”
livemint.com
“"Donations to PM CARES Fund would qualify for 80G benefits for 100% exemption under the Income Tax Act, 1961."”
livemint.com
Anjali Bhardwaj
Social activist critical of the fund’s transparency
“"A fund set up to help citizens during disasters, which has accumulated thousands of crores (including from foreign sources), is shrouded in secrecy. Still no information available on sources of funds. The PMCARES Fund continues to evade public scrutiny by refusing to submit itself to the RTI Act."”
theprint.in
“Why is the PMCARES Fund keeping such large sums of money idle?”
scroll.in
Sources
PM Cares Fund had Rs 8,452 crore corpus by end of FY25, shows audit report
PM CARES fund has corpus of Rs 8,452 crore, earned interest of over Rs 470 cr, but spent only Rs 87 lakh
PM CARES Fund Corpus Rises To ₹8,452 Crore; Spending Falls To ₹87.85 Lakh
₹8,452 crore in PM CARES corpus, reveal public documents, most funds in fixed deposits
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