According to the latest audited accounts, the total balance of the PM CARES Fund rose to ₹8,452.07 crore by March 2025, compared with ₹7,173.03 crore a year earlier. The fund recorded an increase of about ₹1,279.91 crore during financial year 2024-25. About 92.8 percent of the total amount, or ₹7,846.66 crore, was held as fixed deposits with scheduled banks.
As of March 31, 2025, the PM CARES Fund had a total balance of ₹8,452.07 crore. At the beginning of the financial year, the fund held ₹7,173.03 crore. During the year, it received additional funds through domestic and foreign contributions, interest on bank deposits and various refunds.
Against these receipts, approximately ₹87.85 lakh was spent from the fund during financial year 2024-25. The relatively low expenditure, along with the receipts during the year, resulted in the fund balance rising to more than ₹8,452 crore at the end of the financial year.
According to the audited figures, approximately 92.8 percent of the PM CARES Fund's total amount, or ₹7,846.66 crore, was held in fixed deposits with scheduled banks as of March 2025.
The fixed deposits generated about ₹469.38 crore in interest income during the financial year. Savings bank accounts generated approximately ₹5.77 crore in interest. Interest income therefore formed part of the receipts that contributed to the increase in the fund's total balance.
During financial year 2024-25, the PM CARES Fund received approximately ₹479.04 crore in contributions from domestic sources. Foreign contributions stood at about ₹92.83 lakh.
The fund also received approximately ₹324.66 crore in refunds from implementing agencies. In addition, about ₹13.49 lakh was received as a refund of tax deducted at source on interest earned from fixed deposits.
The PM CARES Fund was established in March 2020 during the COVID-19 pandemic to provide additional financial resources for dealing with emergency situations. Prime Minister Narendra Modi appealed to citizens to contribute to the fund on March 28, 2020.
According to official information, the fund is intended to provide assistance during public health emergencies, natural or man-made disasters and other serious circumstances.
According to the government portal, contributions to the PM CARES Fund are entirely voluntary and the fund does not receive government budgetary support. The Prime Minister is the chairperson of the board, while the Defence, Home and Finance Ministers are ex-officio trustees.
The PM CARES Fund recorded substantial contributions and expenditure during its initial years. In financial year 2019-20, thousands of crores of rupees were raised through domestic and foreign contributions within the first few days after its establishment. In 2020-21, domestic contributions and foreign donations increased significantly.
During the same period, the fund incurred substantial expenditure related to the COVID-19 response, including spending on oxygen-related equipment, healthcare infrastructure and other pandemic-related requirements.
In 2021-22, significant expenditure was also incurred on healthcare-related requirements. As the impact of the pandemic declined, annual expenditure from the fund subsequently decreased.
In financial year 2022-23, the fund received approximately ₹1,307.41 crore and spent about ₹439.38 crore. Its balance at the end of the year increased to approximately ₹6,283.68 crore.
In 2023-24, the fund received about ₹904.95 crore, while expenditure declined to approximately ₹15.60 crore. A significant portion of the expenditure that year was related to the PM CARES for Children Scheme. The fund balance at the end of the year rose to ₹7,173.03 crore.
In 2024-25, the balance increased further to ₹8,452.07 crore, with expenditure remaining low and interest and other receipts contributing to the increase.
According to the PM CARES Fund website, the fund is audited by an independent auditor. In 2020, the trust appointed SARC & Associates, Chartered Accountants, as its auditor for three years.
The official FAQ also states that the accounts of the fund are audited at the end of each financial year.
