PSU Watch logo

| EV owners can now charge vehicles using existing electricity connections |   | ICRA suggests long-term finance at low rates for power, renewables in Budget |   | GAIL’s Director (Marketing) ES Ranganathan arrested by CBI in corruption case |   | CAIT urges Centre to exempt GST registration for e-commerce sales |   | Indian Oil to invest Rs 7,000 cr in city gas distribution projects |  

COVID-19: PM CARES Fund Trust allocates Rs 3100 Cr

Rs 2000 crore out of Rs 3100 crore of PM CARES Fund will be spent purchasing ventilators, Rs 1000 crores will be used for care of migrant labourers and Rs.100 crores will be given to support vaccine development

  • PM CARES Fund Trust has earmarked Rs 2000 crore for purchase of 'Made-in-India' ventilators

  • State Governments/UTs will be provided lumpsum assistance of total Rs 1000 crore towards relief measures for migrant labourers and poor

New Delhi: PM CARES (Prime Minister’s Citizen Assistance and Relief in Emergency Situations) Fund Trust today decided to allocate Rs 3100 Crore for the fight against COVID-19. Out of Rs 3100 crore, a sum of approximately Rs 2000 crore will be earmarked for the purchase of ventilators, Rs 1000 crores will be used for the care of migrant labourers and Rs 100 crores will be given to support vaccine development. The trust formed on March 27, 2020, is headed by the 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.

50,000 'Made-in-India' Ventilators

For augmenting the infrastructure to tackle COVID-19 cases across the country, 50000 ‘Made-in-India’ ventilators will be purchased from 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. It is important to mention here that Defence PSU BEL is already in the process of manufacturing ventilators and it aims to deliver 12,000 ventilators in the month of May and another 18,000 in June.

Relief Measures for Migrant labourers

For strengthening the existing measures being taken for the welfare of the migrants and poor, the States/UTs will be given a lump sum assistance of total Rs1000 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 arrangements of 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.

R&D expenditure on a vaccine against COVID-19

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. In order 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 the Principal Scientific Advisor.