Fresh donations to the PM CARES Fund declined in 2024-25, but its overall corpus increased. The latest figures offer a closer look at how the fund has evolved since its creation during the Covid 19 crisis.
When the PM CARES Fund was created in March 2020, India was facing an emergency that affected almost every part of public life. The fund provided a separate channel for voluntary contributions aimed at supporting relief and assistance during difficult situations.
More than six years later, the focus has shifted from its pandemic era creation to what its financial records reveal today. The latest audited figures show that domestic donations fell in 2024-25, while foreign contributions also declined. Yet, the fund ended the financial year with a larger corpus of around ₹8,452 crore, compared with ₹7,173.03 crore a year earlier.
These contrasting figures raise a straightforward question: how can the corpus grow when annual donations are falling? The answer lies in looking at the fund’s wider financial picture, including interest income, refunds, payments and the balance carried forward from previous years. Understanding these numbers also helps explain how the PM CARES Fund has evolved since its establishment and what its stated role is today.
What is the PM CARES Fund?
PM CARES stands for Prime Minister’s Citizen Assistance and Relief in Emergency Situations Fund.
The trust deed establishing the fund was registered in New Delhi on March 27, 2020. It was created during the Covid 19 pandemic to provide assistance and relief during emergency situations.
According to information published by the PM CARES Fund, its objectives are not limited to a particular type of emergency. The fund can be used for assistance related to public health emergencies, natural or human made calamities and other situations involving distress.
Its stated objectives also include supporting the creation or upgrading of healthcare and pharmaceutical facilities, other necessary infrastructure and relevant research.
The fund therefore has a broader emergency relief mandate, even though its establishment was closely associated with the Covid 19 crisis.
Why was the PM CARES Fund established?
The fund was established at a time when India was responding to an unprecedented public health emergency.
The Covid 19 pandemic created requirements for medical infrastructure, equipment, medicines, healthcare facilities and assistance for affected people. The PM CARES Fund was created as a dedicated mechanism through which voluntary contributions could be collected for emergency response and relief.
The official framework describes the fund as a public charitable trust. The Prime Minister is its ex officio chairperson, while the Defence Minister, Home Minister and Finance Minister are ex officio trustees.
The fund is based on voluntary contributions. According to its official information, it does not receive budgetary support.
What does the latest financial data show?
The latest audited figures for 2024-25 show that fresh donations were lower than in the previous financial year.
| Financial indicator | 2023-24 | 2024-25 |
| Domestic donations | ₹681.81 crore | ₹479.05 crore |
| Foreign donations | About ₹1.14 crore | About ₹92.8 lakh |
| Closing balance | ₹7,173.03 crore | About ₹8,452 crore |
| Payments during the year | About ₹15.6 crore | About ₹87.85 lakh |
| Spending under PM CARES for Children | About ₹15.37 crore | About ₹87.84 lakh |
Figures are based on the latest audited data reported in public sources. Some figures are rounded for ease of understanding.
The table shows an important distinction between fresh donations received during a year and the total corpus available at the end of that year. A fall in annual donations does not necessarily mean that the overall corpus will fall.
Why did the corpus increase despite lower donations?
The increase in the corpus is one of the key points in the latest financial data.
While domestic and foreign donations declined, the fund also received income from other sources. Reports based on the audited accounts said the PM CARES Fund earned around ₹469.38 crore in interest income during 2024-25.
It also received refunds from implementing agencies, with the reported amount exceeding ₹324 crore.
These receipts, along with the existing balance, contributed to the increase in the overall corpus.
The closing balance stood at around ₹8,452 crore on March 31, 2025, compared with ₹7,173.03 crore at the end of the previous financial year.
Therefore, the movement of the corpus cannot be understood only by looking at donations. Interest earned on deposits, refunds and payments made during the year also affect the final balance.
How have donations changed since 2020?
The donation pattern has changed considerably since the fund was established.
During 2020-21, when the Covid 19 pandemic was at its most immediate stage, domestic contributions were significantly higher. Reported figures put domestic donations at around ₹7,184 crore during that financial year.
The amount subsequently declined to around ₹1,896 crore in 2021-22 and approximately ₹909 crore in 2022-23.
Domestic donations then fell further to around ₹681.81 crore in 2023-24 and ₹479.05 crore in 2024-25.
Foreign contributions have also followed a declining trend from the early pandemic period. The reported foreign contribution was around ₹495 crore in 2020-21, compared with about ₹40 crore in 2021-22 and ₹2.57 crore in 2022-23.
In 2024-25, foreign contributions were reported at approximately ₹92.8 lakh.
The pattern reflects the difference between the extraordinary contribution levels seen during the pandemic and the lower levels recorded in subsequent years.
Is the PM CARES Fund audited?
The PM CARES Fund’s financial accounts are audited, and audited receipt and payment accounts are published through its official platform.
According to the fund’s official information, its accounts are audited by an independent auditor appointed by the trustees.
Audited statements provide information about the fund’s receipts, payments and balances for individual financial years. This makes it possible to examine how the fund’s financial position has changed over time rather than relying only on individual donation figures.
For readers, this distinction is important because annual donations, expenditure and the closing corpus represent different aspects of the fund’s finances.
What is the role of the PM CARES Fund today?
Although the PM CARES Fund was established during the Covid 19 pandemic, its stated objectives extend beyond Covid related relief.
The fund’s framework allows it to support assistance during public health emergencies, natural disasters, human made calamities and other distress situations.
It has also been associated with initiatives aimed at healthcare infrastructure and assistance to affected sections of society.
One such initiative is PM CARES for Children, which was introduced to support children who lost parents or legal guardians to Covid 19. The latest accounts also include expenditure related to this initiative.
The broader objective is therefore emergency assistance rather than a fund restricted to one particular crisis.
PM CARES Fund: Key questions answered
When was the PM CARES Fund established?
The trust deed was registered on March 27, 2020, during the Covid 19 pandemic.
What does PM CARES stand for?
It stands for Prime Minister’s Citizen Assistance and Relief in Emergency Situations.
What is the purpose of the PM CARES Fund?
Its stated purpose is to provide assistance and relief during emergencies, calamities and other situations of distress.
Who is the chairperson of the PM CARES Fund?
The Prime Minister is the ex officio chairperson of the trust.
Does the fund receive budgetary support?
According to information provided by the fund, it is based on voluntary contributions and does not receive budgetary support.
What was the PM CARES Fund’s closing balance in 2024-25?
The closing balance was reported at around ₹8,452 crore as of March 31, 2025.
Did donations increase in 2024-25?
No. Reported domestic donations fell from ₹681.81 crore in 2023-24 to ₹479.05 crore in 2024-25. Foreign contributions also declined.
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