The trust formed on 27th March 2020 is headed by Hon’ble Prime Minister (ex-Officio) and other ex-officio Members of the trust are Defence Minister, Home Minister and Finance Minister. While announcing this package, the Prime Minister has thanked all the donors for their generosity in contributing to the PM CARES Fund which will support India’s fight against COVID-19.
For augmenting the infrastructure to tackle COVID-19 casesacross the country,50000‘Made-in-India’ ventilators will be purchasedfrom PM CARES Fund at a cost of approximately Rs. 2000 Crores. These ventilators will be provided to government run COVID hospitals in all States/UTs,for better treatment of the critical COVID-19 cases.
For strengthening the existing measures being taken for the welfare of the migrants and poor, the States/UTs will be given a lumpsum assistance of total Rs. 1000 Crore from PM CARES Fund. This amount would be provided to the State Governments/UTs to place it at the disposal of the District Collectors/Municipal Commissioners for strengthening their efforts in providing accommodation facilities, making food arrangements, providing medical treatment and making transportation arrangementsof the migrants.
State/UT-wise funds will be released on the weightage of (a) Population of the State/UT as per 2011 Census – 50%, weightage (b) Number of positive COVID-19 cases as on date – 40% weightage and (c) Equal share (10% weightage) for all states/UTs to ensure basic minimum sum for all states.The fund will be released to the District Collector/District Magistrate/Municipal Commissioner through the State Disaster Relief Commissioner of the States/UTs concerned.
A vaccine against COVID-19 is the most pressing need and Indian academia, start-ups and industry have come together in cutting-edge vaccine design and development.To support the COVID-19 vaccine designers and developers, an amount of Rs. 100 Crore will be given from PM CARES Fund as a helping hand to catalyse vaccine development, which will be utilized under the supervision of Principal Scientific Advisor.