Concerns Arise Over PM CARES Fund Usage Following Audit Report
Audit Report Raises Questions on Fund Management
The recent audit report of the PM CARES Fund has sparked discussions regarding the amount collected and its utilization. As per the report, the fund's balance was approximately ₹8,452 crore as of March 31, 2025. Out of this, around ₹7,846.65 crore was held in fixed deposits, while about ₹605 crore was in savings accounts.
A significant focus has been on the expenditures for the financial year 2024-25. According to the audit statement, a total of ₹87.85 lakh was disbursed from the PM CARES Fund during this period, with nearly the entire amount allocated to the PM CARES for Children Scheme. Only ₹451 was recorded as payments for bank and SMS charges.
The report indicates that during this timeframe, the fund received approximately ₹479.04 crore from domestic donations and around ₹92.83 lakh from foreign contributions. Additionally, about ₹324 crore was refunded from the agencies implementing the fund. However, the brief audit statement did not clarify the detailed reasons for these refunds or the associated projects.
Following the release of these figures, opposition parties and transparency advocates have raised concerns regarding the fund's usage and financial disclosures. The Congress party has asserted that the expenditure is significantly low compared to the available funds. Meanwhile, transparency activists are calling for more information to be made public regarding the substantial amount held in fixed deposits and the limited spending.
Nevertheless, these figures do not inherently indicate any fraud or corruption. The latest audit report primarily provides a financial overview of the fund's receipts, investments, and expenditures. While questions have arisen regarding the low spending and large sums held, it would be inappropriate to label this as evidence of corruption.
Established in 2020 to provide relief and assistance during the COVID-19 pandemic and other emergencies, the recent financial data has reignited political debates surrounding the fund's usage, transparency, and accountability.