Ratan Tata, Justice KT Thomas and former LS Deputy Speaker Kariya Munda have joined PM CARES Fund as trustees.
- September 22, 2022
- Posted by: OptimizeIAS Team
- Category: DPN Topics
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Ratan Tata, Justice KT Thomas and former LS Deputy Speaker Kariya Munda have joined PM CARES Fund as trustees.
Subject: Government Schemes
Concept:
- Prime Minister’s Citizen Assistance and Relief in Emergency Situations Fund, or the PM CARES Fund, was set up to tackle distress situations such as that posed by the COVID19 pandemic.
- The fund receives voluntary contributions from individuals and organisations and does not get any budgetary support. Donations have been made tax exempt, and can be counted against a company’s corporate social responsibility (CSR)
- It is also exempt from the Foreign Contribution (Regulation) Act, 2010, and accepts foreign contributions, although the Centre has previously refused foreign aid to deal with disasters such as the Kerala floods.
- The Prime Minister chairs the fund in his official capacity, and can nominate three eminent persons in relevant fields to the Board of Trustees. The Ministers of Defense, Home Affairs and Finance are ex officio Trustees of the Fund.