Audited financial statements for PM CARES Fund have not been made public since FY 2022-23
The PM CARES Fund has not released audited financial statements since the 2022-23 fiscal year. Transparency advocates are raising concerns regarding the lack of public disclosure for the charitable trust.
Why it matters
Public trust in government-managed emergency funds relies on financial transparency and accountability.
The Prime Minister’s Citizen Assistance and Relief in Emergency Situations (PM CARES) Fund has not made public any audited financial statements since its last disclosure for Financial Year 2022-23.
The PM CARES Fund, a public charitable trust established in March 2020 to support relief efforts during public health emergencies and other disasters, is chaired by the Prime Minister and funded entirely through voluntary contributions, according to information released by the Central government.
The last publicly available audited financial statements, for FY 2022-23, show an opening balance of ₹5,415.65 crore, voluntary contributions of ₹909.64 crore, total receipts of ₹6,723.07 crore, total payments of ₹439.38 crore, and a closing balance of ₹6,283.68 crore as on March 31, 2023.
Audited financial statements for FY 2019-20, FY 2020-21, FY 2021-22, and FY 2022-23 are available on the PM CARES website. The PM CARES Fund has primarily financed India’s COVID-19 response and emergency health infrastructure.
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