News:Prime Minister has announced the constitution of the PM’s Citizen Assistance and Relief in Emergency Situations(PM-CARES) fund.
Facts:
- PM-CARES:It is 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.
- Chairman:Prime Minister
- Members:Defence Minister, Home Minister and Finance Minister.
- Exemption:The donations to this fund will be exempted from income tax under section 80(G).
