PM CARES Fund balance rises to ₹8,452 crore as Congress questions spending
&imwidth=600&imheight=450&format=webp&quality=medium "PM CARES Fund balance rises to ₹8,452 crore as Congress questions spending")
PM Narendra Modi addresses during the release of the benefits under PM CARES for Children Scheme Photograph: (ANI)
The PM CARES Fund balance rose to ₹8,452 crore in 2024-25, with Congress questioning low spending, audit transparency and ₹324 crore in refunds.
The PM CARES fund's closing balance rose from ₹7,173 crore in 2023-24 to ₹8,452 crore in 2024-25, according to the latest audit report updated by the Union Government and released on August 17, 2026. Of the closing balance, ₹7,846 crore was in fixed deposits and ₹ 605 crore in savings bank accounts, the report said. Around ₹475 crore was earned as interest from fixed deposits. The fund spent ₹87.8 lakh on the PM CARES for Children Scheme during 2024-25, sharply down from ₹15,37 crore in the previous period.
The Congress Party on Tuesday criticised the government, calling out for using “only 0.01 per cent” of the ₹8,452 crore despite the need for relief and natural calamities.
"Only 0.01% of the ₹8,452 crore available has been utilised — even as natural calamities devastate communities across the country and thousands need relief and rehabilitation. Rs 8,452 crore sitting idle while people suffer. PM CARES? Hardly," said Congress leader Pawan Khera in a post on the social media platform X.
The government has maintained that the fund can be used as a financial cushion which can be tapped when emergencies arise. However, social activist and transparency advocate Anjali Bhardwaj has flagged issues related to “secrecy” over the source of the funds. Major state-run companies used their Corporate Social Responsibility budgets to fund PM CARES. Top contributors include ONGC, NTPC, Power Grid Corporation, Indian Oil (IOC), and Power Finance Corporation. It is a paradox of "private" trust primarily backed by state-linked entities. PM CARES is not audited by the Comptroller and Auditor General of India. Instead, it uses private chartered accountants, due to its private status, which is why it is also kept out of the ambit of the Right to Information.
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“324 crore was refunded by implementing agencies - but no info on what these payments were for and why these were refunded? Which agency refunded? Were refunds done to evade accountability for faulty equipment?”, Bharadwaj wrote in a post on X. “Why have accompanying notes to the audit report not been uploaded?”, she added.
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Congress Kerala unit has raised questions, supposedly showing several Chinese tech companies donating heavily to the PM CARES Fund. “Why are Chinese companies, particularly close to the Chinese Communist Party, paying PM Modi to his private fund?”, the Congress’s Kerala unit asked.
It added: “Is this the reason why he was silent when China occupied 4067 km2 in Ladakh? Is this the reason why he is silent on the land grab happening in Arunachal Pradesh?”
“Modi govt owes India 3 answers: Who donated? Why is it not being spent? Why is it still hidden from public audit?” Kushagra Saxena, a spokesperson for the Congress, said.
While critics on Social media question the almost-two-year delay in filing the audit, suggesting that even private charitable funds are subject to audit rules and have to be audited by an ICAI-registered firm. Others questioned the absence of a Unique Document Identification Number (UDIN) and the ₹324 crore refunded by implementing agencies.
