Ratan Tata, 2 others appointed trustees of 'PM CARES' Fund
India's veteran Industrialist Ratan Tata has been appointed as a trustee of the 'PM CARES Fund.' He is among the renowned persons nominated to the trust. Others include former Supreme Court judge Justice KT Thomas and former deputy Lok Sabha speaker Kariya Munda. The decision to appoint them was taken in a meeting of the Board of Trustees headed by Prime Minister Narendra Modi.
What makes up the new Advisory Board?
The Trust additionally resolved to propose other distinguished individuals for the appointment to the Advisory Board for the PM CARES Fund, as per the Prime Minister's Office (PMO) statement. Among these notable individuals were Anand Shah, co-founder of Teach for India, Rajiv Mehrishi, a former CEO of Indicorps and the Piramal Foundation, and Sudha Murthy, a former chairperson of the Infosys Foundation.
What does PMO office say on the appointment?
Soon after the announcement of their names, PMO released a statement saying "the participation of new Trustees and Advisors will provide wider perspectives on the functioning of the PM CARE Fund.'' "Their vast experience of public life would impart further vigor in making the fund more responsive to various public needs," the statement added.
What is the PM CARES Fund?
The PM CARES fund was created by PM Modi on March 27, 2020, to extend assistance to people in the wake of the ongoing COVID-19 pandemic. Its trustees include the Prime Minister, the Home Minister, the Defence Minister, and the Finance Minister. However, since its creation, it has received flak from activists, lawyers, and politicians who questioned the transparency in donations.
Benefits of donating to the fund
The Income Tax Act's 80G provisions would apply to donations to the PM CARES Fund, exempting them entirely. As per The Mint, a total of Rs. 7,031.9 crore was raised for the fund between 2020 and 2021.
