PM National Relief Fund vs. PM Cares Fund : Key differences
PM National Relief Fund vs. PM Cares Fund : Key differences
A National Relief Fund for dealing with natural disasters in India was established in 1948 at the time of independence. Despite the previous establishment another likewise fund that is PM Care Fund has been established by the present NDA government. Let us read key differences in this article.
About Prime Minister's National Relief Fund (PMNRF):-
The Prime Minister's National Relief Fund was established by the former and late Prime Minister Jawaharlal Nehru in January 1948. The main purpose of its establishment was to help the displaced people of Pakistan during the partition of the country.
Currently, the funds collected in this pool are used to provide immediate relief to the families of those killed in earthquakes, cyclones, floods, tsunamis, and other natural disasters and to victims of major accidents and communal riots.
Apart from this, the fund is also used for medical treatment like kidney transplant, heart surgery, acid attack, and cancer treatment of needy people.
The fund audited every year.
What is PM Cares Fund?
The PM Cares Fund has been established by the current Prime Minister Shri Narendra Modi on 27 March 2020. The main objective behind its establishment is to arrange finance to deal with COVID-19 epidemic in India.
The full form of the PM Cares fund is “The Prime Minister's Citizen Assistance and Relief in Emergency Situations Fund.”
Since its establishment, the PM Cares Fund is being criticized for not having any auditor of the fund. Actually, the central government has appointed an auditor for the same.
Difference between PM Care Fund and Prime Minister National Relief Fund:-
Comparison:
PM CARES
PMNRF
Purpose ofe stablishment:
PM Cares
To help poor people affected by COVID-19
PMNRF
To help those displaced from Pakistan during partition
Date of establishment
PM Cares
27 March 2020
PMNRF
January 1948
Chairman :
Both:
Prime Minister of India
Prime Minister of India
Members
PM Cares:
The Home Minister, Finance Minister and Defense Minister are members of the Trust while the Prime Minister can nominate 3 other eminent personalities from different areas as members of the Trust.
PMNRF
Congress President and representative of FICCI and Tata Trusts.
Expenditure on:
PM Cares
To deal with any kind of emergency like COVID-19 epidemic.
PMNRF
To deal with natural calamities, accidents and riot victims and for medical treatment like kidney transplant, heart surgery, acid attack and cancer treatment etc.
Tax rebate
PM Cares
The entire amount donated by the person, institution or company will come under the tax exemption.
PMNRF
All contributors who donated to PMNRF will get 100% tax exemption under Section 80 (G) of Income Tax Act 1961.
Audited by
PM Cares
During the meeting held on 23 March 2020, the Trustees of PM Care Fund decided to appoint M/S SARC Associates Chartered Accountants, New Delhi as Auditor of PM Care Fund for 3 years. This firm is headed by Sunil Kumar Gupta, who audits the PM National Relief Fund also.
PMNRF
It is audited by an independent auditor outside the government. Currently, M/S SARC Associates Chartered Accountants is its auditors
These were some important differences between the PM Cares Fund and the Prime Minister's Relief Fund. It is expected that the Central Government will soon clear the confusion by disclosing the amount deposited in the PM Cares fund.
Comments
Post a Comment