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PM cares latest updates

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The Prime Minister’s Citizen Assistance and Relief in Emergency Situations Fund, better known as PM CARES, will allocate ₹3,100 crore to COVID-19 relief, including funds for ventilators, migrant workers and vaccine development, according to an official statement from the Prime Minister’s Office on May 13 evening.

Rs 3,100 crore from the Prime Minister’s Citizen Assistance and Relief in Emergency Situations or PM-CARES Fund will be used to fight the coronavirus crisis, the government announced on Wednesday, amid mounting pressure for transparency in its new national war chest.

“Out of Rs 3,100 crore, a sum of approximately Rs 2,000 crore will be earmarked for the purchase of ventilators, Rs 1,000 crore will be used for care of migrant labourers and Rs 100 crores will be given to support vaccine development,” Prime Minister Narendra Modi’s office said in a statement.

Meanwhile, earlier today, a day after Prime Minister Narendra Modi announced an economic package worth Rs 20 lakh crore or 10 per cent of India’s GDP in 2019-20, Union Finance Minister Nirmala Sitharaman in a press conference announced a slew of measures to help businesses, including micro, small and medium enterprises (MSMEs), recover from the economic impact of the coronavirus