PM Modi chairs meeting of Board of Trustees of PM CARES Fund

Tags: National National News

PM Modi chaired a meeting of the Board of Trustees of the PM CARES Fund on September 20. 

IMPORTANT FACTS -

• A presentation was made in the meeting on various initiatives taken with the help of the PM Cares Fund, including the PM Cares for Children scheme, which is helping four thousand three hundred 45 children.

• The Trustees appreciated the role played by this fund created at a crucial time for the country.

• It was discussed in the meeting that PM CARES has a great vision to respond effectively to emergency and crisis situations not only through relief assistance but also through mitigation measures and capacity building.

• The meeting was attended by Union Home Minister Amit Shah, Finance Minister Nirmala Sitharaman, newly appointed trustee of former Supreme Court Justice KT Thomas, former Deputy Speaker of Lok Sabha Karia Munda and Tata Sons Honorary Chairman Ratan Tata.

• In the meeting, it was decided to nominate Rajiv Mehrishi, former Comptroller and Auditor General of India, Sudha Murthy, former chairman of Infosys Foundation and Anand Shah, former executive officer of Indy Corps and Piramal Foundation, to the advisory board of PM Cares Fund.

About PM CARES Fund :

• Established - March 2020

• It is registered as a Public Charitable Trust.

Objective :

• To work for the development of infrastructure along with economic and technical assistance to the people in case of any kind of natural or human calamity in the country.

Composition :

• The Prime Minister is the ex-officio chairman of the PM CARES Fund and the Union Defence Minister, Home Minister and Finance Minister are the ex-officio trustees of the fund.

• The Chairman of the Board of Trustees shall have the power to nominate three trustees to the Board of Trustees.

Funding :

• The fund consists entirely of voluntary contributions from individuals/organisations and does not receive any government budgetary support.

Exemptions :

• Donations to the fund are 100% exempt under section 80G of the Income Tax Act, 1961.

• Donations to this fund will also be counted as Corporate Social Responsibility (CSR) expenditure under the Companies Act, 2013.