PMCARES was set up as a public charitable trust under the name of ‘Prime Minister’s Citizen Assistance and Relief in Emergency Situations Fund’.
to deal with any kind of emergency or distress caused by COVID-19 or such conditions.
To undertake and support relief or assistance of any kind relating to a public health emergency or any other kind of emergency, calamity or distress, either man-made or natural,
creation or upgradation of healthcare or pharmaceutical facilities, other necessary infrastructure for COVID-19.
Composition of trust:
Prime Minister act as the ex-officio Chairman of the PM CARES Fund.
Minister of Defence, Minister of Home Affairs and Minister of Finance, Government of India are ex-officio Trustees of the Fund.
Chairman has the power to nominate three eminent persons in the field of research, health, science, social work, public administration and philanthropy.
Funds consist of voluntary contribution from individuals/ organisations.
It will NOT receive funding from budgetary allocations.
These donations will also be counted as Corporate Social responsibility expenditure under the companies Act, 2013.
Funding received in PM CARES Fund will also get exemption from the FCRA and a separate account for receiving foreign donations has been opened.