Is the PM-CARES fund a private or public trust?

According to Corporate Affairs, the fund is not eligible for corporate donations. Many politicians are still questioning the transparency of the PM-Cares fund. Even many citizens are eager to know about the Prime Minister's Care Fund.

0
28
PM-Cares fund
PM-Cares fund. Image Source: The logical Indian.

The PM-Cares fund was established for the coronavirus, defined as government funding.
A clause in the Prime Minister’s fund refers to private funds that exempt from RTI scrutiny.

The basic objective of the fund 

The basic reason for setting up this fund for emergency situations by Narendra Modi. It deals with emergencies such as coronavirus epidemics. The Care Fund was established on 27 March 2020 March. PM-Cares Fund is also registered in the Department of Revenue in Delhi.

Chairperson of the PM-Cares fund 

Prime Minister’s fund chairperson is Narendra Modi. And the senior minister is the trustee of the fund. As such, the fund does not define whether the fund is public or private.

The trust deed defines that the ownership of the fund is not controlled by the finances of the government..

It has no control of central or state government

The fund has no direct or indirect control over the central or state government.

The Ministry of Corporate Affairs qualified the Prime Minister Fund as a corporate social responsibility to achieve corporate governance.

As per the Companies Act

The company works as per the eligibility of this fund corporate donation as a contribution to the PM Fund by the Central Government or any fund by the Central Government for the state for socioeconomic development and this fund is scheduled for Scheduled Castes, Scheduled Tribes, Other Backward Classes, Minorities, and women.

According to Corporate Affairs, the fund is not eligible for corporate donations. Many politicians are still questioning the transparency of the PM-Cares fund. Even many citizens are eager to know about the Prime Minister’s Care Fund.

Many big entrepreneurs have donated to this relief fund like Ratan Taita, Mukesh Ambani, etc. The basic purpose of this donation is for epidemics only. Fighting the coronavirus is not easy for us, not for the government.

Most-viewed: Why do Pakistanis believe that their country is moving in the wrong direction?

LEAVE A REPLY

Please enter your comment!
Please enter your name here