PM CARES Fund Corpus Hits Record Rs. 8,452 Crore, Rs. 6,641 Crore Parked in Fixed Deposits The PM CARES Fund, established by Prime Minister Narendra Modi in 2020 to address emergencies, has grown to a corpus of Rs. 8,452.07 crore as of the end of the 2024-25 financial year. This marks a significant increase from the previous year’s corpus of Rs. 7,173 crore, reflecting a rise of approximately Rs. 1,279 crore over the past year. A detailed audit report reveals that the majority of the fund’s assets—Rs. 6,641 crore—are currently held in fixed deposits, a stark contrast to the previous year when only Rs. 78.46 crore was parked in such accounts. This shift indicates a strategic move to prioritize long-term investments, as fixed deposits offer higher returns compared to savings accounts, which saw a decline in holdings. Savings account balances dropped from Rs. 6,283 crore in 2022-23 to Rs. 605 crore in 2024-25. The fund’s growth is also attributed to interest income. In 2024-25, fixed deposits generated Rs. 475 crore in interest, with an additional Rs. 13.49 lakh returned as tax benefits. This interest income, combined with new contributions, contributed significantly to the fund’s expansion. New inflows during the 2024-25 fiscal year totaled Rs. 1,279 crore, sourced from domestic and foreign donations, interest, and reimbursements from implementing agencies. Domestic contributions accounted for Rs. 479.04 crore, while foreign donations amounted to Rs. 92.83 lakh. Reimbursements from agencies totaled Rs. 324.66 crore. Despite substantial inflows, the fund’s expenditure remained minimal, with only Rs. 87.85 lakh spent during the year. This low spending, coupled with interest income, explains the sharp rise in the corpus.#finance_minister #narendra_modi #pm_cares_fund #central_home_minister #defense_minister
