New Delhi12 minutes ago
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The contribution of government companies to the donations made by listed companies to the PM Cares Fund has been high. An analysis of data by primeinfobase.com, a firm that monitors companies listed on the National Stock Exchange (NSE), shows that government companies have contributed about Rs 2,913.6 crore to PM Cares.
Business Standard identified 57 companies in which the government has a majority stake. Government companies contributed 59.3% of the total donation amount of Rs 4,910.5 crore (government and private companies). Out of these 57 companies, the top 5 companies are ONGC (Rs 370 crore), NTPC (Rs 330 crore), PowerGrid Corporation of India (Rs 275 crore), Indian Oil Corporation (Rs 265 crore) and Power Finance Corporation (Rs 222.4 crore).
The PM Cares Fund has been embroiled in controversies since its inception in March 2020. Its chairman is the prime minister, while its trust includes the defense minister, the home minister and the finance minister. According to a report presented by the Central Government in the Delhi High Court in January 2023, it is not a fund controlled by the Government of India. This trust does not get money from the government.
The PM Cares Fund also receives donations from individuals and other organizations. A total of Rs 3,076.6 crore was received in the year 2019-20. In the year 2020-21, this amount increased to Rs 10,990.2 crore.