Domestic donations to PM CARES fund down 30% to ₹479 crore in FY25

Domestic donations to the PM CARES Fund fell 30 per cent to nearly ₹479 crore in the financial year 2024-25, according to the fund’s latest audit report. The decline marks another drop in voluntary contributions after the fund received exceptionally high donations during the Covid-19 pandemic. Foreign contributions also decreased during the year, falling 18 per cent to ₹92.8 lakh.

Despite the fall in fresh donations, the overall balance of the PM CARES Fund increased to ₹8,452 crore as of March 31, 2025, from ₹7,173 crore a year earlier. The latest figures show that the fund continues to hold a substantial financial corpus, with the bulk of its balance parked in fixed deposits. The fund spent just ₹87.8 lakh during FY25 on the PM CARES for Children Scheme, sharply lower than the previous year’s expenditure.

PM CARES Domestic Donations Fall To ₹479 Crore

Domestic voluntary contributions to the PM CARES Fund declined from ₹681.8 crore in FY24 to ₹479 crore in FY25. That represents a year-on-year fall of approximately ₹202.8 crore, or nearly 30 per cent.

The latest decline continues a longer-term downward trend from the exceptional contribution levels seen during the pandemic. Domestic donations peaked at ₹7,184 crore in FY21, when individuals, companies and other donors contributed heavily to the emergency response effort.

Since then, annual domestic contributions have fallen substantially as the immediate urgency surrounding the Covid-19 crisis has diminished.

Domestic Donation Trend

Financial Year	Domestic Donations	Change
FY21	₹7,184 crore	Peak year
FY22	₹1,896 crore	-73.6%
FY23	₹909 crore	-52.1%
FY24	₹681.8 crore	-25.0%
FY25	₹479 crore	-29.7%

Five-Year Donation Trend — Infographic

PM CARES FUND — DOMESTIC DONATIONS

FY21  ₹7,184 cr  ████████████████████████████████████
FY22  ₹1,896 cr  ██████████
FY23    ₹909 cr  █████
FY24    ₹682 cr  ████
FY25    ₹479 cr  ███

Peak: FY21
FY25 vs FY21: ↓ about 93%
FY25 vs FY24: ↓ about 30%

The data shows the exceptional nature of the pandemic-era fundraising. Domestic donations in FY25 were less than 7 per cent of the ₹7,184 crore received in FY21.

Foreign Donations Also Decline

Foreign contributions to the PM CARES Fund also declined during FY25. The fund received ₹92.8 lakh from foreign sources, down from ₹1.13 crore in FY24.

Although the percentage decline was smaller than that of domestic contributions, the longer-term trend is considerably sharper. Foreign donations had reached ₹495 crore in FY21 before falling dramatically in subsequent years.

Financial Year	Foreign Contributions
FY21	₹495 crore
FY22	₹40 crore
FY23	₹2.57 crore
FY24	₹1.13 crore
FY25	₹0.928 crore

Foreign Contributions — Long-Term Decline

FY21  ₹495.00 cr  ████████████████████████████████████████
FY22   ₹40.00 cr  ███
FY23    ₹2.57 cr  ▏
FY24    ₹1.13 cr  ▏
FY25    ₹0.93 cr  ▏

Foreign contributions in FY25 were therefore only a tiny fraction of the amount received during FY21. The latest figure is also the second-lowest annual foreign contribution since the fund was established, according to the audited statements cited in the report.

PM CARES Fund Balance Rises To ₹8,452 Crore

While annual donations declined, the total balance of the PM CARES Fund increased significantly.

The fund had a balance of ₹7,173 crore at the end of FY24. By March 31, 2025, that amount had increased to ₹8,452 crore, representing an increase of approximately ₹1,279 crore, or nearly 18 per cent.

PM CARES Fund Financial Snapshot

Metric	FY24	FY25	Change
Total fund balance	₹7,173 cr	₹8,452 cr	+₹1,279 cr
Domestic donations	₹681.8 cr	₹479 cr	-₹202.8 cr
Foreign donations	₹1.13 cr	₹0.928 cr	-₹0.202 cr
PM CARES for Children spending	₹15.37 cr	₹0.878 cr	-94.3%
Fixed deposits	—	₹7,846 cr	—
Savings bank accounts	—	₹605 cr	—

The increase in the overall corpus despite lower fresh contributions reflects the fund’s accumulated financial resources and investment holdings.

Majority Of Fund Balance Parked In Fixed Deposits

A large majority of the PM CARES Fund’s balance was held in fixed deposits as of March 31, 2025.

The audit report showed ₹7,846 crore parked in fixed deposits and another ₹605 crore held in savings bank accounts. Together, these holdings accounted for virtually the entire reported balance of ₹8,452 crore, with the small difference attributable to rounding in the reported figures.

Where The ₹8,452-Crore Balance Was Held

PM CARES FUND BALANCE — MARCH 31, 2025

Fixed Deposits       ₹7,846 cr  █████████████████████████████████████
Savings Accounts       ₹605 cr  ███
Other / rounding         ~₹1 cr
                       ─────────
Total                 ₹8,452 cr

Fixed deposits therefore represented roughly 92.8 per cent of the fund’s reported balance, while savings bank accounts accounted for around 7.2 per cent.

The structure indicates that the overwhelming majority of the fund’s corpus remained in financial deposits rather than being spent during FY25.

Spending Falls Sharply In FY25

Expenditure from the PM CARES Fund also declined sharply during FY25.

The fund spent ₹87.8 lakh on the PM CARES for Children Scheme during the year, compared with ₹15.37 crore in FY24. That represents a decline of more than 94 per cent.

Financial Year	PM CARES For Children Spending
FY24	₹15.37 crore
FY25	₹0.878 crore
Reduction	₹14.49 crore
Percentage decline	About 94.3%

The decline is particularly notable because the fund was originally created to respond to emergency situations and provide assistance during periods of distress.

The PM CARES for Children Scheme was introduced to support children who lost parents or guardians during the Covid-19 pandemic. The reduction in annual spending may partly reflect the changing nature of the programme as the immediate pandemic emergency receded.

PM CARES Was Created During Covid-19

The Prime Minister’s Citizen Assistance and Relief in Emergency Situations Fund, commonly known as PM CARES, was established in March 2020.

Its primary objective was to provide financial assistance during emergencies and distress situations. The fund was created as a public charitable trust and receives voluntary contributions rather than regular budgetary support.

The fund became particularly important during the Covid-19 crisis, when contributions surged from individuals, businesses and other donors.

Pandemic-Era Fundraising Was Exceptional

The scale of contributions during FY21 stands out sharply compared with subsequent years.

Domestic contributions of ₹7,184 crore in FY21 were nearly 15 times the ₹479 crore received in FY25. Foreign contributions showed an even more dramatic decline, falling from ₹495 crore in FY21 to less than ₹1 crore in FY25.

This suggests that the extraordinary fundraising surge was closely associated with the emergency conditions created by the pandemic.

Major Covid-Era Spending

The fund was used for several emergency healthcare-related initiatives during the pandemic.

According to the audited figures cited in the report, approximately ₹1,703 crore was spent in FY22 on pressure-swing adsorption oxygen plants. Another ₹835 crore was spent on ventilators.

Total expenditure during FY22 was nearly ₹1,938 crore, making it one of the most significant spending years for the fund.

Covid-Era Spending	Amount
Pressure-swing adsorption oxygen plants	₹1,703 crore
Ventilators	₹835 crore
Total expenditure in FY22	Nearly ₹1,938 crore

These expenditures were aimed at expanding emergency healthcare capacity during the second wave of Covid-19, when hospitals faced shortages of oxygen and critical medical equipment.

What The Donation Decline Means

The latest figures show that PM CARES has moved considerably away from the extraordinary fundraising environment of FY20 and FY21.

The decline in donations does not necessarily indicate a loss of public interest by itself. Emergency fundraising often follows a different pattern from normal charitable giving because contributions can surge when a major crisis occurs and subsequently return to lower levels once the immediate emergency passes.

At the same time, the rising overall balance means the fund still has significant financial resources available for future emergency or relief requirements.

PM CARES Fund: Key Numbers

₹8,452 crore     Total balance as of March 31, 2025
₹7,846 crore     Held in fixed deposits
₹605 crore       Held in savings accounts
₹479 crore       Domestic donations in FY25
₹92.8 lakh       Foreign donations in FY25
₹87.8 lakh       FY25 spending on PM CARES for Children
₹7,184 crore     Peak domestic donations in FY21
₹495 crore       Peak foreign donations in FY21

The Bigger Picture

The latest PM CARES figures illustrate the dramatic transition from pandemic-era emergency fundraising to a more normalised level of contributions. Domestic donations have fallen from ₹7,184 crore in FY21 to ₹479 crore in FY25, while foreign contributions have dropped from ₹495 crore to ₹92.8 lakh over the same period. At the same time, the fund’s overall balance increased to ₹8,452 crore, with most of the money held in fixed deposits.

The numbers also highlight the difference between annual donations, spending and the total corpus. A decline in new contributions does not necessarily translate into a decline in the fund’s financial capacity because accumulated balances remain available. The sharp fall in spending on the PM CARES for Children Scheme, meanwhile, reflects the changing requirements of a programme established in the aftermath of the Covid-19 crisis.

Looking Ahead

The focus will now be on how the PM CARES Fund’s substantial corpus is deployed in future emergencies and relief programmes. With ₹8,452 crore in reported balance at the end of FY25, the fund has a sizeable financial base even though annual contributions are considerably below their pandemic peak. Future disasters, public-health emergencies or other national crises could influence both contributions and expenditure.

For donors and policymakers, the latest audited figures also provide a snapshot of how an emergency-focused fund has evolved after the pandemic. The sharp fall in annual donations is likely to remain a key feature of the fund’s financial trajectory, while the size of its accumulated corpus means its investment income, future spending and use of reserves will remain important indicators in subsequent annual reports.