PM CARES Fund spends only 0.01 percent of its balance

Newly released receipts and payments for the PM CARES Fund for the 2023–24 and 2024–25 financial years reveal that the fund spent only ₹87.85 lakh, representing just 0.01 percent of its ₹8,452 crore closing balance.

Reports indicate that 93 percent of the fund's money was transferred into fixed deposits. Concerns have been raised regarding the fund's lack of transparency, its ability to accept foreign donations, and the absence of a stated policy regarding reserve requirements. Additionally, questions have surfaced regarding the lack of full donor-level disclosure and potential implications for civil society organizations in India.