NTPC, NHPC, REC & other Power Ministry PSUs donate huge Rs 925 cr to PM-CARES Covid Fund

On Tuesday, the public sector undertakings of Ministries of Power and MNRE announced that it would contribute a whopping Rs.925 crore to the PM CARES fund launched by Prime Minister Narendra Modi. Writing on Twitter, RK Singh, Minister of State (IC) Power and New & Renewable Energy, expressed solidarity with the government in the fight against the novel coronavirus and said that first part of the donation will be made on March 31 and rest in the first week of April.  

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The PM CARES fund

Called the Prime Minister's Citizen Assistance and Relief in Emergency Situations Fund, this charitable trust was set up by the Centre on March 28. While PM Modi is the Chairman of this trust, the Defence Minister, Home Minister and Finance Minister are the other members. All citizens including individuals, corporates and organizations can contribute to this fund to augment the relief efforts in the wake of the novel coronavirus crisis.

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The donation to PM CARES fund will be exempted from Income Tax under Section 80(G). Moreover, PM Modi specified that the fund would not only cater to similar situations in the future, but would help strengthen disaster management capacity. One can donate via bank transfer, UPI, Debit and Credit Cards and internet banking.  

So far, eminent personalities such as Akshay Kumar, Varun Dhawan, Rajkummar Rao, Bhumi Pednekar, Anushka Sharma, Virat Kohli, Sabyasachi and Badshah have pledged a donation to the PM CARES fund. Moreover, the Adani Foundation has announced Rs.100 crore for this new fund. While the Home Ministry officials have decided to donate one day salary, the staff of the Supreme Court will donate three days' salary to the PM CARES fund. 

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