The Prime Minister of India, Narendra Modi, introduced various schemes for the benefit of the people. Among many schemes, the Prime Minister Relief Fund was set up in the year 1948 to help the victims who were ousted during India’s partition from Pakistan. On 27th March 2020, the PM Cares Fund was set up to deal with the coronavirus situation.
To find the difference between the PMNRF and PM CARES Fund, we need to find the schemes.
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What is the Difference Between PMNRF and PM Cares Fund
PMNRF (Prime Minister’s National Relief Fund)
In 1948, Jawaharlal Nehru, the then prime minister of India, the then prime minister established the National Relief Fund. The main cause behind introducing the fund was to help the victims of the India-Pakistan partition. Today, the funds collected for this cause are used for immediate relief for families who get killed by cyclones, tsunamis, floods, earthquakes, and natural disasters. It also helps the victims of communal riots and major accidents.
Other than these cases, the fund is also used for various medical treatments like heart surgery, cancer treatment, acid attack, and poor people’s kidney transplant. The Prime Ministers National Relief Fund is audited every year to get a better picture of every people’s financial condition of funds in India.
PM CARES Fund
The current Prime Minister, Narendra Modi, established the PM CARES to find on 27th March 2020. The motto of the fund was to arrange wealth to help the victims of coronavirus in India. The Prime Ministers Citizen Assistance and Relief in Emergency Situations Fund are still criticized for having improper auditor. However, an auditor is now appointed by the central government.
Difference between the PMNRF and PM CARES Fund
The motto of the fund: The PM CARES Fund’s motto was to help the victims of the poor people affected due to the global pandemic of COVID 19. On the contrary, the PMNRF was established to help the victims who were ousted during India’s partition.
Establishment Dates: The PM CARES Fund is still running and was launched on 27th March 2020. At the same time, the PMNRF was launched in January 1948.
Members of the scheme- The PM CARES Trust Fund consists of the finance minister, Defense Minister, and the home minister. Simultaneously, the Prime Minister can also select three other popular personalities from various areas to be members of the fund. The PMNRF consisted of the congress President, Tata Trusts, and deputy of FICCI.
Expenses Of The Fund: The PM CARES to find is spent on the emergency of coronavirus pandemic. In contrast, the PMNRF was used to deal with accidents, natural disasters, medical treatment for kidney transplants, cancer treatments, acid attacks, and more.
Rebate on Tax- the PM CARES fund the entire amount donated by the institution, individual or company comes under tax protection. The companies and individuals who donated to the PMNRF got 100% tax protection under section 80G of the Income Tax Act of 1961.
Authorized By: The trustees of PM CARES to find held a meeting on 23rd March 2020 and appointed M/S SARC Associates Chartered accountants of New Delhi to be the auditors of the find for three years. The organization is directed by Sunil Kumar Gupta, responsible for auditing both the PMNRF and PM CARES fund.
Balance: As per the last count of 20th May, the unofficial PM CARES fund balance data is somewhere around 9.7crores. While the official data of PMNRF state a sum of 3800crores.
These are some of the differences between the PM CARES fund and the PMNRF. Although the sum of the PM CARES fund is unknown, the government will likely announce the current balance pretty soon.