Decline in Contributions to PM CARES Fund After COVID Pandemic
The PM CARES Fund, created in March 2020 in response to the COVID-19 crisis, saw a significant drop in contributions in the financial year 2022-23, with total donations reaching Rs 912 crore, a steep fall from the Rs 7,184 crore received in 2020-21. Voluntary contributions accounted for Rs 909.64 crore, while foreign donations were just Rs 2.57 crore. The fund’s contribution peaked during the pandemic, with both domestic and international support rapidly declining post-2021 as the crisis subsided.
In 2020-21, PM CARES Fund received its highest-ever voluntary contributions of Rs 7,184 crore, driven by public support amid the COVID-19 emergency. Foreign contributions also surged to Rs 495 crore. However, as the pandemic’s intensity decreased, voluntary donations plummeted to Rs 1,938 crore in 2021-22 and further fell to Rs 912 crore in 2022-23. Foreign donations saw a sharper decline, from Rs 495 crore in 2020-21 to just Rs 2.57 crore in 2022-23.
In fiscal year 2022-23, the fund’s total expenditure was approximately Rs 439 crore. A significant portion, Rs 346 crore, was allocated to the “PM Cares for Children” initiative, aimed at supporting children who lost both parents or their guardians due to COVID-19. Additionally, nearly Rs 92 crore was spent on the procurement of oxygen concentrators to aid in the pandemic’s medical response.
The drop in contributions marks a shift from the height of the pandemic, signaling reduced urgency and public donations. The 2022-23 figures show a stabilization in donations, reflecting the receding public health crisis but also highlighting ongoing financial support for specific government initiatives linked to pandemic recovery.
| Key Points | Details |
|---|---|
| Why in news? | PM CARES Fund received Rs 912 crore in contributions during FY 2022-23, its lowest since inception. Contributions peaked at Rs 7,184 crore in 2020-21. Rs 346 crore was allocated to “PM Cares for Children” initiative, and Rs 92 crore was spent on oxygen concentrators. |
| Establishment of PM CARES Fund | March 2020, in response to the COVID-19 pandemic. |
| Highest Contribution | Rs 7,184 crore in FY 2020-21. |
| Foreign Contribution Trend | Rs 495 crore (2020-21) → Rs 40 crore (2021-22) → Rs 2.57 crore (2022-23). |
| Expenditure in FY 2022-23 | Rs 439 crore total: Rs 346 crore for children orphaned by COVID, Rs 92 crore for oxygen concentrators. |
| Purpose | To provide relief and assistance during emergencies such as health crises like COVID-19. |
India has many cities that are famous for their unique industries, and some of them…
Some deserts are extremely hot, but some remain cold throughout the year. These cold deserts…
In today’s world, news media plays a very important role in sharing information quickly and…
PNB Housing Finance has announced the appointment of Ajai Kumar Shukla as its new Managing…
In a major push towards deepening financial inclusion, the Department of Posts (DoP) and BSE,…
India’s retail inflation, measured by the Consumer Price Index (CPI), increased modestly to 0.71% in…