COVID-19: Rs 3,100 crores allocated from PM CARES Funds
The PM CARES Fund trust was created on March 27, 2020. It was headed by Prime Minister Modi. The other members include Home Minister, Defence Minister and Finance Minister.
The allocated funds are to be used to buy 50,000 ventilators. The ventilators are to be purchased at a cost of Rs 2,000 cores. These ventilators will be supplied to government run COVID-19 hospitals.
Around 1000 crores will be provided to state governments and union territories. They will put at the disposal of municipal commissioners and district collectors. It is to be used for making food arrangements, transport arrangements and providing medical treatment to the migrants.
This 1000 crores will be split to the states based on their population as of 2011 census and number of persons affected by COVID-19.
Vaccine against COVID-19 is the current pressing need. In order to support vaccine developers, Rs 100 crores has been allocated. The disposal of this fund is to be supervised by the Principal Scientific Advisor.
How is PM CARES Funds different?
The PM CARES Funds was dedicated to COVID-19 situation. On the other hand, the Prime Minister National Relief Fund (PMNRF) was meant for all natural disasters.
The Comptroller and Auditor General of India were not allowed to audit the funds. The GoI claims that the funds were collected based in donations of organizations and individuals and therefore, independent auditors were appointed by the trustees.
Month: Current Affairs - May, 2020
Category: India Nation & States Current Affairs