PM CARES Fund Reaches ₹8,452 Crore, Spending Drops to ₹87.85 Lakh

The PM CARES Fund's corpus has reached a record ₹8,452.07 crore as of March 31, 2025, according to its latest audited receipts and payments accounts. The accounts for 2023-24 and 2024-25 were made public on the fund's website around August 17, 2026.

The corpus stood at around ₹7,173 crore at the end of 2023-24, marking an increase of nearly ₹1,279 crore. This increase can be attributed to the interest earned from fixed deposits, which now account for nearly 93% of the total corpus.

Around ₹7,846.65 crore of the corpus was held in fixed deposits with scheduled banks, while around ₹605 crore was kept in savings accounts. The shift towards fixed deposits has helped the fund earn significant interest, which has now become one of its major sources of income.

Domestic voluntary donations fell to around ₹479 crore in 2024-25 from nearly ₹682 crore in the previous financial year, a decline of about 30%. Foreign donations also declined, falling from around ₹1.13-1.14 crore in 2023-24 to less than ₹1 crore during 2024-25.

Despite the fall in donations, the fund's balance increased due to interest income and refunds received from implementing agencies. The fund earned around ₹469-475 crore in interest from fixed deposits during the financial year, and approximately ₹5.77 crore from savings accounts.

Around ₹325 crore was received as refunds from implementing agencies. Together, donations, interest, and refunds contributed more than ₹1,200 crore to the fund during the year, helping push the corpus to its highest level so far.

The latest accounts show that the PM CARES Fund spent only ₹87.85 lakh during 2024-25, significantly lower than the approximately ₹15.6 crore spent in 2023-24. Nearly the entire amount went towards the PM CARES for Children Scheme, while a small amount was spent on bank and SMS charges.

The PM CARES Fund was established in March 2020 during the COVID-19 pandemic to provide assistance during emergencies and distress situations. According to figures, the fund has received around ₹14,767 crore in cumulative donations since its creation, while total expenditure stood at approximately ₹8,133 crore up to 2024-25.

A large portion of the spending took place during the peak of the COVID-19 crisis, including expenditure on emergency medical infrastructure and related relief measures. The latest figures are also likely to bring back questions about transparency and utilisation of the fund.

The significant decrease in spending and the large corpus of the fund have raised questions about the utilisation of the funds and the transparency of the PM CARES Fund. The fund's spending has been a topic of debate, with many questioning the allocation of funds and the lack of transparency in the fund's operations.

In conclusion, the PM CARES Fund's corpus has reached a record high, while spending has decreased significantly. The fund's reliance on interest income and the decline in donations have raised questions about the sustainability of the fund and its ability to provide assistance during emergencies and distress situations.