With reference to the PM CARES Fund, consider the following statements: I. The amount collected by it directly goes to t…
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With reference to the PM CARES Fund, consider the following statements: I. The amount collected by it directly goes to the Consolidated Fund of India. II. It can avail donations from the foreign contribution and donations to fund can also avail 100% tax exemption. Which of the above statements is/are correct?
✓ Correct answer: b) II only
ExplanationPM CARES Fund – Under the chairmanship of Prime Minister Narendra Modi, the Prime Minister’s Citizen Assistance and Relief in Emergency Situation Fund was created on March 28th, 2020. The Prime Minister’s Citizen Assistance and Relief in Emergency | | Defence Situations Fund popularly known as PM- CARES Fund has been established by the government to address any emergency or distress scenario, including the COVID- 19 pandemic.This Fund was established as a result of several demands from the public to assist the administration in the wake of the COVID-19 emergency.Candidates can know detailed information about the PM CARES Fund on the Official Website (pmindia.gov.in).PM CARES fund is covered under the PM Schemes which is an important static GK topic with regards to UPSC or any other competitive examination.About PM CARES Fund: With the Prime Minister serving as its Chairman, the Fund is a public charitable trust.The ministers of defence, home affairs, and finance are additional members.As a result of the Fund’s ability to accept micro-donations, many people will be able to make donations in even the smallest amounts.The Fund will enhance capabilities for disaster management and promote research on citizen protection.Objectives of PM CARES Fund: To undertake and support relief or assistance of any kind relating to a public health emergency or any other kind of emergency, calamity or distress, either man-made or natural, including the creation or upkeep of healthcare or pharmaceutical facilities, other necessary infrastructure, funding relevant research or any other type of support.To render financial assistance, provide grants of payments of money or take such other steps as may be deemed necessary by the Board of Trustees to the affected population.To undertake any other activity, which is not inconsistent with the above Objects.Hence, the correct answer is option (B).
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