Authored by me...
Open source material has been used & each information compiled below has been gleaned from multiple sources...
1. First, mandate.
PMNRF caters to natural emergencies, calamities and to emerging medical expenses.
PM CARES also includes research & infrastructure in pharmaceutical and healthcare sector.
2. Second, Trustees.
In 1985, when Rajiv Gandhi was the PM, the management of the PMNRF fund was entrusted entirely with the Prime Minister. PM had the sole discretion of appointing a secretary to manage the fund & the criterion for disbursement of money and selection of beneficiaries is purely at the ‘discretion of the PM and in accordance with the PM’s directions.’
PM CARES has the PM, HM, FM, DM as the trustees, with provisions to nominate at least three more trustees, who are experts in various scientific / tech fields. PM CARES thus delegates the power of deliberation and decision making to three other ministers of the government. As chairman of the PM CARES trust, PM still has the responsibility of sanctioning and approving his ministers’ recommendations.
3. Third, Income Tax.
As both these funds are contributory in nature, they are not subject to Income Tax. Also, contributions to both these funds are also not subject to Income Tax.
PM CARES can also accept funds from abroad, as it has FCRA exemption.
4. Fourth, income & expenditure profile.
PMNRF is a 70 year old fund & has a well established income & expdr profile which is available in public domain.
The PM CARES, being recently established, does not have a publicly available income and expenditure profile yet. (This does not mean that there is something fishy here. Just that it will take one financial year cycle to do it.)
5. Fifth, Delhi Highcourt has already trashed a PIL asking the legal validity of this fund.
6. Sixth, audit.
Both PMNRF & PM Care are audited by independent auditors & not CAG, due to the nature of funding of these funds.
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