Rs.3,100 crore from PM CARES allocated for COVID-19 relief-THE HINDU-14-05-2020
The Prime Minister’s Citizen Assistance and Relief in Emergency Situations Fund, better known as PM CARES, will allocate Rs.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.
State-wise allocations will be determined on the basis of population , number of positive COVID-19 cases and a 10% share split equally to ensure a basic minimum sum for all States.
PM CARES will give Rs100 crore to support those in Indian academia, start-ups and industry who are working on designing and developing a vaccine against COVID-19. The PM CARES Fund Trust, which decided these allocations, is headed by Prime Minister Narendra Modi in his official capacity.