New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    The Prime Minister's National Relief Fund (PMNRF) was

    established to provide relief in times of natural calamities and assist with medical expenses for those in need. It is entirely funded through public contributions and offers several tax exemptions for donors. Which of the following statements regarding the PMNRF is correct ? 1.      PMNRF receives budgetary support from the government and is managed as a public welfare initiative under the Ministry of Finance. 2.      The fund has been formally constituted by Parliament and is overseen by the Prime Minister and other elected officials. 3.      Contributions to the PMNRF are exempt from Income Tax under section 80(G), and the fund can accept donations from individuals, organizations, and trusts.
    A Only 1 Correct Answer Incorrect Answer
    B Only 2 Correct Answer Incorrect Answer
    C Only 3 Correct Answer Incorrect Answer
    D Only 1 and 3 Correct Answer Incorrect Answer
    E All 1, 2, and 3 Correct Answer Incorrect Answer

    Solution

    The PMNRF does not receive government funding and is managed entirely through public donations. Contributions to the fund are exempt from income tax under section 80(G) , which encourages people to contribute to relief efforts.

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