RTI activists have raised concerns as audited financial statements for the PM CARES Fund have not been made public since the 2022-23 fiscal year.

Key Takeaways

  • No audited financial statements have been released for PM CARES Fund since FY 2022-23.
  • The fund operates outside the jurisdiction of the RTI Act and CAG audits.
  • Donations to the fund qualify for 100% tax deductions and CSR compliance.

The Prime Minister’s Citizen Assistance and Relief in Emergency Situations (PM CARES) Fund is facing scrutiny regarding its financial transparency. Reports indicate that audited financial statements for the fund have not been made public since the conclusion of the 2022-23 financial year.

Established in March 2020, the PM CARES Fund serves as a public charitable trust designed to provide relief during public health emergencies and natural disasters. The fund is chaired by the Prime Minister, with various Union Ministers serving as trustees. While it relies on voluntary contributions, its fiscal management has become a point of contention.

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Why This Matters

BozokMedia analysis shows that the lack of public disclosure creates a significant information gap between the state and its citizens. This is particularly sensitive because donations to the fund are highly incentivized; they qualify for a 100% deduction under the Income Tax Act and can be utilized as Corporate Social Responsibility (CSR) expenditure under the Companies Act.

The absence of mandatory public audits for a fund receiving massive public and corporate donations undermines the principle of fiscal accountability.

RTI activists have highlighted a critical legal loophole: the fund remains outside the ambit of the Right to Information (RTI) Act, parliamentary scrutiny, and audits by the Comptroller and Auditor General (CAG) of India. This immunity from standard oversight mechanisms is the core of the ongoing debate.

Historical Background

The PM CARES Fund was launched during the height of the COVID-19 pandemic to facilitate rapid response to the global health crisis. Since its inception, it has funded critical infrastructure, such as oxygen generation plants in hospitals, yet its governance structure remains distinct from typical government-controlled funds.

Did You Know?: PM CARES Fund donations are eligible for tax benefits under Section 80G of the Income Tax Act.

Frequently Asked Questions

1. Is the PM CARES Fund subject to RTI queries?
No, currently the fund is not covered under the Right to Information Act.

2. Who audits the PM CARES Fund?
The fund is not subject to audit by the Comptroller and Auditor General (CAG) of India.