Voluntary contributions to the PM CARES Fund dropped to ₹912 crore in the 2022-23 fiscal year, marking the lowest level since the public charitable trust was established in March 2020 during the onset of the COVID-19 pandemic.
An analysis of the audited statements available on the PM CARES Fund website reveals that voluntary donations peaked at ₹7,184 crore in 2020-21, before declining to ₹1,938 crore in 2021-22 and further to ₹912 crore in 2022-23 as the COVID threat subsided post-2021.
The 2022-23 fiscal year is the most recent for which financial statements are accessible.
Foreign contributions have witnessed a more significant decline, from ₹495 crore in 2020-21 to ₹40 crore in 2021-22, and just ₹2.57 crore in 2022-23.
In 2022-23, the fund's total expenditure was approximately ₹439 crore. Of this, ₹346 crore was allocated to the "PM CARES for Children" initiative, which supports children who lost both parents, legal guardians, or their surviving parent to the COVID-19 pandemic. Nearly ₹92 crore was spent on procuring oxygen concentrators, according to the financial statement.
The PM CARES Fund was established by the Narendra Modi government with the primary aim of addressing emergencies or distress situations, such as the COVID pandemic, and providing relief to those affected. Registered as a public charitable trust, it is chaired ex officio by the Prime Minister and relies solely on voluntary contributions, receiving no support from the government budget.
Over the years, the fund has been utilised to bolster emergency care, including setting up oxygen plants and purchasing ventilators for hospitals managed by central and state governments to address pandemic-related challenges.
In 2021-22, expenditures included ₹1,703 crore for pressure swing adsorption oxygen plants and ₹835 crore for ventilators, out of a total expenditure of ₹1,938 crore.
As of the end of the 2022-23 fiscal year, the fund's closing balance exceeded ₹6,283 crore.
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