business ๐ง PM CARES Fund holding huge amounts idle?
The PM CARES Fund received โน1,279.9 crore in FY 2024-25 but only spent โน87.85 lakh, according to audited financials. This fund, chaired by the Prime Minister and operating in India, saw donations drop 30% compared to the prior year. The fund's closing balance stood at โน8,452.06 crore as of FY 2024-25. An RTI activist questioned why such massive sums are kept idle and pointed to opaque filings. The fund continues to avoid public scrutiny by not being under the RTI Act. ๐ง