Rs.3,100 cr of PM CARES Fund allocated for COVID-19 fight; migrant workers to benefit

On Wednesday, the PM CARES Fund Trust decided to allocate Rs.3100 crore for the fight against the novel coronavirus. While Rs.2000 crore shall be earmarked for the purchase of ventilators, Rs.1000 crore will be used for the care of migrants. Additionally, Rs.100 crore will be dedicated towards the development of the COVID-19 vaccine. As per a press release, the PM thanked all the donors for their generosity in contributing to the PM CARES Fund. 

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Details of the allocation

In a further push towards the Centre's push for indigenous products, 50,000 'Made-in-India' ventilators shall be purchased from the PM CARES fund. The ventilators will be provided to government-run COVID-19 hospitals in states and Union Territories. As far as the allocation for migrants is concerned, the state governments shall be given a lumpsum amount of Rs.1000 crore. These funds will be released to the District Collectors and Municipal Commissioners for providing accommodation facilities, food arrangements, medical treatment and transportation arrangements of the migrants. The funds will be given to the states based on the weightage of the population (50%), the number of COVID-19 cases (40%) and equal share for all states(10%). The amount for the vaccine development shall be utilised under the supervision of the Principal Scientific Advisor.

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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.

The donation to PM CARES fund is 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 also help strengthen disaster management capacity. One can donate via bank transfer, UPI, Debit and Credit Cards and internet banking. As per a report, PM CARES Fund reportedly received more than Rs.6,500 crore barely a week after the announcement of the Fund. 

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