PM CARES Fund Spent Just 0.1% of FY 2024-25 Funds
The PM CARES Fund received nearly ₹480 crore in domestic donations during the financial year 2024-25, but spent only ₹87.85 lakh during the year, according to audited financial statements made public on August 18, 2026.
The disclosures, covering both FY 2023-24 and FY 2024-25, were released after the annual financial statements had not been publicly uploaded since FY 2022-23.
The latest figures have renewed questions over how the emergency relief fund is being utilised, why such a large balance remains unspent and why detailed disclosures were delayed.
PM CARES Fund donations rise sharply in FY 2024-25
According to the financial information reported by The Hindu, the PM CARES Fund’s donations increased sharply during FY 2024-25.
Domestic donations stood at nearly ₹479 crore, while foreign donations amounted to approximately ₹92.8 lakh.
The report says domestic donations had actually fallen by about 30%, while foreign donations declined by around 18% compared with the previous year. Despite these declines, the overall figure described in the report represents a substantial increase when compared with the previous year’s reported donation figure.
The fund’s total receipts for FY 2024-25, including net donations, interest earned on bank and fixed deposits and refunds from implementing agencies, amounted to approximately ₹1,279.9 crore.
How much did PM CARES spend?
The most striking figure in the latest financial statements is the amount spent during the year.
The fund spent approximately ₹87.85 lakh in FY 2024-25.
That represents roughly 0.1% of the ₹1,279.9 crore received during the year, according to the report.
The figure is even smaller when compared with the fund’s overall closing balance.
At the end of FY 2024-25, PM CARES had a balance of approximately:
₹8,452.06 crore
Based on that balance, the ₹87.85 lakh expenditure represented approximately 0.01% of the closing corpus.
This has prompted questions about why a fund established specifically to assist citizens during emergencies and disasters is holding such a large amount without deploying a substantial portion of it.
PM CARES Fund balance rises to ₹8,452 crore
The fund’s closing balance increased by approximately 17.8% during FY 2024-25.
The ₹8,452.06 crore balance includes funds accumulated since the creation of PM CARES in March 2020.
The fund was established during the COVID-19 pandemic to support relief and emergency-response measures.
Since its establishment, it has accumulated significant contributions from individuals, companies and other sources.
The latest figures therefore provide an important picture of the scale of the fund and the amount that remains available for future emergency responses.
Why was the financial disclosure delayed?
Another important issue surrounding the latest figures is the delay in making the audited statements publicly available.
According to the supplied report, annual disclosures had not been uploaded after FY 2022-23.
The Hindu had highlighted the absence of the subsequent financial disclosures on August 8, 2026.
The financial statements for 2023-24 and 2024-25 were finally made available on August 18.
The delay has consequently become part of the wider debate about transparency surrounding the fund.
Questions over ₹324 crore in refunds
The latest disclosure also reportedly shows that approximately ₹324 crore was refunded by implementing agencies during FY 2024-25.
However, critics have questioned the lack of detailed information about those refunds.
The report cites questions about:
Which agencies returned the money?
Why were the funds returned?
What projects or purchases were involved?
Why were the amounts not utilised?
What happened to the projects for which the money had originally been allocated?
The supplied report says the audit disclosure did not provide information about the nature and reasons for these refunds or identify the agencies involved.
These questions have contributed to calls for greater transparency around the operation of PM CARES.
What is the PM CARES Fund?
The Prime Minister’s Citizen Assistance and Relief in Emergency Situations Fund, commonly known as PM CARES, was established in March 2020.
Its stated purpose is to provide assistance during public health emergencies and other disasters.
The fund is chaired by the Prime Minister in an ex officio capacity, while Union Cabinet Ministers serve as trustees.
Unlike a conventional government budget allocation, PM CARES is funded through voluntary contributions.
The fund became particularly prominent during the COVID-19 pandemic, when individuals, businesses and organisations contributed money toward emergency relief efforts.
Why is PM CARES facing transparency questions?
Transparency has been a recurring issue in discussions surrounding PM CARES.
Critics have questioned the extent to which information about donations, spending, implementing agencies and projects should be publicly available.
The supplied report says the National Campaign for People’s Right to Information (NCPRI) has criticised the fund’s disclosure practices.
Anjali Bhardwaj, co-convenor of NCPRI, questioned why such a large amount remains unused and raised concerns over the absence of accompanying notes to the audit report.
She also questioned why detailed information about sources of funds was not available.
These are criticisms raised by campaigners and should be distinguished from the financial figures contained in the audited statements themselves.
PM CARES and the RTI debate
Another longstanding issue is whether PM CARES should come under the Right to Information Act.
The supplied report says the government has maintained that the PM CARES Trust is not a public authority under the RTI Act.
Critics, however, have argued that the fund’s connection to public officials, government employees and CSR contributions makes greater public scrutiny appropriate.
The debate has also involved questions concerning parliamentary oversight and the role of the Comptroller and Auditor General.
The important distinction is that the existence of an audited financial statement does not necessarily resolve all questions concerning access to detailed information about individual donations, implementing agencies or expenditure decisions.
How much has PM CARES spent since its creation?
According to the figures cited in the supplied report, the fund had spent less than one-fifth of its total income between its creation in March 2020 and March 31, 2025.
The reported cumulative utilisation rate was approximately 18.7% of total income.
That means the majority of the money received since the fund was established remained within the corpus at the end of the period.
For supporters of maintaining a large emergency reserve, a substantial balance can provide the ability to respond rapidly when a major disaster or public-health emergency occurs.
For critics, however, the low utilisation rate raises questions about whether money contributed for emergency assistance is reaching beneficiaries quickly enough.
Why the 0.1% figure is attracting attention
The most widely discussed number from the latest disclosure is the 0.1% utilisation figure for FY 2024-25.
It is important to understand what this percentage represents.
The fund did not spend 0.1% of its entire historical corpus during the year. Rather, the ₹87.85 lakh expenditure was approximately 0.1% of the ₹1,279.9 crore in total income/receipts reported for FY 2024-25.
Separately, the expenditure represented around 0.01% of the ₹8,452.06 crore closing balance.
This distinction is important because the two percentages are calculated against different bases.
Why might a large emergency fund retain substantial reserves?
An emergency fund does not necessarily need to spend all its money every year.
Maintaining a large corpus can allow an organisation to respond to unexpected events such as pandemics, natural disasters or other major emergencies without waiting for fresh donations.
However, the unusually low expenditure reported for FY 2024-25 raises a different question: whether the fund’s large reserves are being deployed efficiently when assistance is required.
That is ultimately a question of policy and governance rather than simply the size of the balance.
What the latest disclosure means
The publication of the FY 2023-24 and FY 2024-25 financial statements provides new information about the fund’s financial position after the disclosure gap.
Three figures stand out:
₹1,279.9 crore — total receipts during FY 2024-25, including net donations, interest and refunds.
₹87.85 lakh — expenditure during FY 2024-25.
₹8,452.06 crore — closing balance at the end of FY 2024-25.
The figures provide a clearer picture of the size of PM CARES and its utilisation, but they have also renewed demands for more detailed information about how the corpus is managed.
Key takeaways
PM CARES made its FY 2023-24 and FY 2024-25 audited financial statements available on August 18, 2026.
Domestic donations in FY 2024-25 were nearly ₹479 crore.
Foreign donations were approximately ₹92.8 lakh.
Total receipts during the year were around ₹1,279.9 crore.
The fund spent approximately ₹87.85 lakh, around 0.1% of FY 2024-25 receipts.
Its closing balance stood at ₹8,452.06 crore.
The fund’s balance increased by approximately 17.8% during FY 2024-25.
Around ₹324 crore was reportedly refunded by implementing agencies.
The cumulative spending since the fund’s creation was reported at less than 18.7% of total income through March 31, 2025.
The disclosure delay has renewed questions over transparency and public scrutiny.
Conclusion
The latest PM CARES financial disclosures provide an important update on the fund’s finances after a lengthy gap in publicly available annual statements.
The most notable finding is the very low expenditure during FY 2024-25: approximately ₹87.85 lakh against ₹1,279.9 crore in receipts, while the fund ended the year with a corpus of ₹8,452.06 crore.
The figures alone do not establish whether the fund is being managed appropriately or inappropriately. An emergency fund can reasonably maintain substantial reserves. However, the size of the corpus, low annual utilisation, refunds from implementing agencies and the delayed publication of financial statements are likely to keep questions about transparency and accountability in the public debate.
For readers, the key issue going forward will be whether future disclosures provide greater detail on where the money comes from, where it goes, why funds are refunded and how the large remaining corpus is intended to be used during emergencies.
FAQs
What is the PM CARES Fund?
PM CARES stands for Prime Minister’s Citizen Assistance and Relief in Emergency Situations Fund. It was established in March 2020 to support relief efforts during public health emergencies and other disasters.
How much did PM CARES Fund receive in FY 2024-25?
The supplied report says the fund received total receipts of approximately ₹1,279.9 crore during FY 2024-25, including net donations, interest and refunds.
How much did PM CARES Fund spend in FY 2024-25?
The fund spent approximately ₹87.85 lakh during FY 2024-25, according to the reported audited financial statements.
What was the PM CARES Fund balance at the end of FY 2024-25?
The closing balance was approximately ₹8,452.06 crore.
What percentage of FY 2024-25 receipts did PM CARES spend?
The reported ₹87.85 lakh expenditure was approximately 0.1% of the ₹1,279.9 crore in FY 2024-25 receipts.
How much did domestic donations to PM CARES total?
Domestic donations were nearly ₹479 crore in FY 2024-25, according to the supplied report.
How much foreign donation did PM CARES receive?
Foreign donations were approximately ₹92.8 lakh during FY 2024-25.
Why are there questions about PM CARES Fund transparency?
Questions have been raised over the delay in publishing financial statements, the size of the fund’s unused balance, information about refunds by implementing agencies and the fund’s position regarding the RTI Act.
Is PM CARES Fund covered by the RTI Act?
The supplied report says the government has maintained that the PM CARES Trust is not a public authority under the RTI Act. This remains an area of public debate.
When were the latest PM CARES financial statements released?
According to the supplied report, financial statements covering FY 2023-24 and FY 2024-25 were made available on August 18, 2026.
Disclaimer
Disclaimer: This article is based on the source material and financial figures provided for this report. Financial figures and statements attributed to the audited financial statements are presented as reported in the source. Questions and criticisms concerning transparency, RTI coverage and accountability are attributed to the individuals or organisations cited and should not be treated as independently established conclusions. Readers should refer to the official PM CARES disclosures and relevant government documents for primary-source verification. Roy Daily Update does not endorse political positions or allegations made by any individual or organisation.
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About the Author
Ravi is a digital content writer and blogger at Roy Daily Update, covering breaking news, government updates, business, jobs, Karnataka news, technology, entertainment and major developments in India and around the world.
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