Now Reading: PM CARES fund corpus rises to Rs 8,452 crore despite donation dip
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PM CARES fund corpus rises to Rs 8,452 crore despite donation dip
The corpus of the PM CARES Fund rose 17.8% to Rs 8,452.07 crore in 2024-25 from Rs 7,173.03 crore in 2023-24, even as domestic donations fell 30% and foreign donations 18%, according to audited statements released Monday. The increase was driven by Rs 469 crore interest on fixed deposits and Rs 324 crore refunds from implementing agencies, while expenditure was just Rs 87.85 lakh, 0.01% of the corpus, Hindustan Times reports.
Cockroach Janta Party founder Abhijeet Dipke questioned why so little of the corpus is being spent, arguing Rs 8,452 crore could build over 1,000 model schools if each costs Rs 8 crore, according to Times Now and Livemint. Opposition leaders including Mahua Moitra and Rajendra Pal Gautam joined in demanding an audit and raised questions about FCRA exemptions and alleged links between donors and government tenders.
Indian Opinion Analysis
Hindustan Times leads with the audited figures and transparency activist Anjali Bhardwaj's critique of idle funds and refund opacity, while Times Now and Livemint foreground Abhijeet Dipke's school infrastructure argument, adding political reaction from the opposition. The common thread: all three note that 0.01% utilisation and Rs 324 crore in refunds raise legitimate governance questions about the fund's purpose and accountability. The core issue, whether a charitable trust with such low disbursal should redirect funds to visible public needs, remains unanswered. Watch for the JPC report on the FCRA amendment bill, which could bring more scrutiny to the fund's exemption status.
Coverage: 3 sources, 2 neutral, 1 sensationalist
Sources (3): hindustantimes.com (neutral report), timesnownews.com (sensationalist), livemint.com (neutral report)
This story was synthesised by AI from the 3 sources linked above. Methodology and corrections.
Updated: this story now draws on 3 sources.
