Now Reading: PM CARES fund corpus swells to Rs 8,452 crore, spending negligible
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PM CARES fund corpus swells to Rs 8,452 crore, spending negligible
The PM CARES Fund’s audited financial statements for 2023-24 and 2024-25 show its corpus grew to Rs 8,452 crore by March 31, 2025. Deccan Herald reports that spending in 2024-25 was only…
The PM CARES Fund’s audited financial statements for 2023-24 and 2024-25 show its corpus grew to Rs 8,452 crore by March 31, 2025. Deccan Herald reports that spending in 2024-25 was only Rs 87.9 lakh, 0.01 percent of the corpus, and Rs 15.6 crore in 2023-24, both for the PM CARES for Children scheme. Frontline notes the fund earned about Rs 475 crore in interest, with most money sitting in fixed deposits.
Both outlets highlight criticism over the minuscule spending while the country faced multiple emergencies. Deccan Herald reports the government has maintained the fund is not under the RTI Act, and that the PMO told Parliament questions about it are not admissible. Frontline quotes transparency campaigners questioning why the fund accumulated over Rs 8,000 crore with little disbursement, and notes the timing of the release avoided parliamentary scrutiny.
The fund, created in March 2020, received Rs 479 crore in domestic donations and Rs 92.83 lakh in foreign donations in 2024-25, a drop from the previous year. Deccan Herald says the government has not disclosed the source of contributions, while Frontline reports the audit was signed by a new auditor and four government officials.
Indian Opinion Analysis
Deccan Herald frames the story around governance failure and lack of transparency, emphasising the RTI exemption and parliamentary inadmissibility. Frontline focuses on the meagre spending ratio and quotes activists demanding answers. Both outlets report the same core facts, but Frontline adds context about the fund's stated objectives and the timing of the release. A careful reader should note that while the fund has a massive idle corpus, the government has not explained why it did not deploy more money during recent calamities. Watch for whether the government issues a formal response or releases more frequent audit reports.
Coverage: 2 sources, 2 government-critical
Sources (2): deccanherald.com (government critical), frontline.thehindu.com (government critical)
This story was synthesised by AI from the 2 sources linked above.
Updated: this story now draws on 2 sources.
