Coronavirus: Prime Minister Narendra Modi announces new fund for COVID-19
Called PM-CARES, this new fund will be used to battle the coronavirus pandemic and any other future disaster. It will be chaired by the Prime Minister of India.
Prime Minister Narendra Modi has launched a new fund to battle the coronavirus pandemic and any other disasters arising in the future.
The fund, called the Prime Minister's Citizen Assistance and Relief in Emergency Situations Fund or PM CARES, will be chaired by the Prime Minister. Its members include the Defence Minister, the Home Minister, and the Finance Minister.
In a statement, the government said, "The spread of coronavirus has been alarming and is posing severe health and economic ramifications for our country. The Prime Minister's office has been receiving spontaneous and innumerable requests for making generous donations to support the government in the wake of this emergency."
The statement added, "Keeping in mind the need for having a dedicated national fund with the primary objective of dealing with any kind of emergency or distress situation, like posed by the COVID-19 pandemic, and to provide relief to the affected, a public charitable trust under the name of 'Prime Minister's Citizen Assistance and Relief in Emergency Situations Fund' (PM CARES Fund)' has been set up."
PM Narendra Modi announced the launch of the fund on Twitter on Saturday. He also tweeted details of how one can contribute to the fund – using debit and credit cards, internet banking, UPI, and RTGS/NEFT – urging people to donate even in small amounts.
Almost immediately after, Bollywood star Akshay Kumar pledged a donation of Rs 25 crore to the fund. Cricketer Suresh Raina also pledged Rs 31 lakh to it while the BCCI will contribute Rs 51 crore.
The statement goes on to add, "The pandemic of COVID-19 has engulfed the entire world and has posed serious challenges for the health and economic security of millions of people worldwide. In India too, the spread of coronavirus has been alarming and is posing severe health and economic ramifications for our country. The Prime Minister’s office has been receiving spontaneous and innumerable requests for making generous donations to support the government in the wake of this emergency."
(Edited by Saheli Sen Gupta)