Question
Consider the following statements about PM CARES Fund
-: I. The fund in addition to the voluntary contributions from individuals/organizations also gets a budgetary support from Union Government. II. It can accept donations and contributions from individuals and organizations based in foreign countries. III. The Fund is a public charitable trust with the Finance Minsiter as its Chairman. Which of the statements given above is/are correct?Solution
The PM CARES Fund was created on 28 March 2020, with the primary objective of dealing with any kind of emergency or distress situation, like posed by the COVID-19 pandemic, and to provide relief to the affected, a public charitable trust under the name of lsquo;Prime Ministerrsquo;s Citizen Assistance and Relief in Emergency Situations Fundrsquo; (PM CARES Fund)rsquo; has been set up. The Fund is a public charitable trust with the Prime Minister as its Chairman. Statement I not correct - : The fund consists entirely of voluntary contributions from individuals/organizations and does not get any budgetary support. Statement II is correct - : This enables PM CARES Fund to accept donations and contributions from individuals and organizations based in foreign countries. Statement III is not correct -: The Fund is a public charitable trust with the Prime Minister as its Chairman. Other Members include Defence Minister, Home Minister and Finance Minister. PM CARES Fund has also got exemption under the FCRA and a separate account for receiving foreign donations has been opened.
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