PM-CARES Fund

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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).