Under the chairmanship of Prime Minister Narendra Modi, the Prime Minister’s Citizen Assistance and Relief in Emergency Situation Fund was created on March 28th, 2020. The Prime Minister’s Citizen Assistance and Relief in Emergency Situations Fund popularly known as PM-CARES Fund has been established by the government to address any emergency or distress scenario, including the COVID-19 pandemic.
Overview of PM CARES Fund
|Name||PM CARES Fund|
|Launch year||28 March 2020|
|Launched by||PM Narendra Modi|
|Nodal Ministry||Minister of Defence, Minister of Home Affairs and Minister of Finance|
|Also known as||Citizen Assistance and Relief in Emergency Situation Fund|
|Sector||Central sector scheme|
|Objective||to deal with forthcoming emergencies or distress situations.|
|Aim||to address any emergency or distress scenario, including the COVID-19 pandemic.|
Objective and Benefits of PM CARES Fund
•To undertake and support relief or assistance of any kind relating to a public health emergency or any other kind of emergency, calamity or distress, either man-made or natural, including the creation or upkeep of healthcare or pharmaceutical facilities, other necessary infrastructure, funding relevant research or any other type of support.
•To render financial assistance, provide grants of payments of money or take such other steps as may be deemed necessary by the Board of Trustees to the affected population.
•To undertake any other activity, which is not inconsistent with the above Objects.