PM Cares Fund: High Income, No Spending
Audit shows just Rs 87.84 lakh spent as Congress and activists question fund transparency
New Delhi: The government on Tuesday released the audited accounts of Prime Minister's Care Fund for the financial years 2023-24 and 2024-25, which threw up more questions than answers. The fund, that was set up for emergency use during distress, is being criticised for not being utilised despite several incidences of devastation in the country.
The audit showed that even though the total receipts went up from Rs 7,188.63 crore in FY 23-24 to Rs 8.452.95 crores in 2024-25, both domestic and international donations fell substantially. Domestic donations to the PM CARES Fund fell by 30% to nearly Rs 479 crore during the fiscal year 2024-2025 while foreign donations also declined by 18% to Rs 92.8 lakh.
However, PM Cares Fund earned interest of Rs 470 crore for the fund parked with it which added substantially to its kitty. The biggest amount reflecting under receipts head was “refund from implementing agencies” which amounted to Rs 324 crore.
The spending was much less than the money received, with only Rs 87.84 lakh utilised in 2024-25 under PM Cares for Children head.
The report generated more questions than answers, as the Congress questioned the government why only 0.01% of the total amount was spent despite massive devastation and natural calamities across the nation. Activist Anjali Bharadwaj questioned why there was no information on Rs 324 crore refunded by the implementing agencies.
“Utilised only 0.01% of available Rs 8,452 crore! Why is the PMCARES Fund keeping such large sums of money idle? Rs 324 crore was refunded by implementing agencies, but no information on what these payments were for and why these were refunded? Which agency refunded? Were refunds done to evade accountability for faulty equipment? Why have accompanying notes to the audit report not been uploaded? A fund set up to help citizens during disasters, which has accumulated thousands of crores (including from foreign sources), is shrouded in secrecy. Still, no information available on sources of funds. The PMCARES Fund continues to evade public scrutiny by refusing to submit itself to the RTI Act,” wrote Ms Bharadwaj on X.
“Only 0.01% of the Rs 8,452 crore available has been utilised — even as natural calamities devastate communities across the country and thousands need relief and rehabilitation. Rs 8,452 crore sitting idle while people suffer. PM CARES? Hardly,” said Congress Rajya Sabha member Mr Pawan Khera.
The auditing of PM Cares Fund is done by a Mumbai-headquartered private Chartered Accountant firm, KKC & Associates LLP. While people questioned why the PM Cares Fund was not audited by a government agency like the Comptroller and Auditor General of India (CAG), several chartered accountants questioned why the audited statements do not have the UDIN (Unique Document Identification Number) as mandated by the Institute of Chartered Accountants of India.