PM CARES Fund: Govt appoints Industrialist Ratan Tata as Trustee

Govt appoints Industrialist Ratan Tata as Trustee.

The veteran industrialist Ratan Tata, former Supreme Court justice KT Thomas, and former deputy speaker of the Lok Sabha Kariya Munda have all been proposed as trustees of the PM CARES Fund, according to the prime minister’s office. Amit Shah, the Union Home Minister, and Nirmala Sitharaman, the Union Finance Minister, attended a meeting of the Board of Trustees of the PM CARES Fund that was presided over by Prime Minister Narendra Modi.

In the PM Cares Fund, Shah and Sitharaman are the trustees. The newly nominated trustees of the PM CARES Fund were named during the meeting by Ratan Tata, Chairman Emeritus of Tata Sons, Justice KT Thomas, a former SC judge, and Kariya Munda, a former Deputy Speaker.

Today, the Prime Minister of India, Narendra Modi, announced that Mr. Ratan Tata, Chairman Emeritus of Tata Sons, will be appointed as the Trustee of the PM CARES Fund. This fund was created by Prime Minister Narendra Modi in 2014 to help improve the lives of India’s poor. This appointment is a big step for Tata and India.

This is in recognition of the Trustee’s immense contribution to the country’s economic and social development. The Trust, therefore, decided, by the PMO, to propose other distinguished individuals to create the Advisory Board for the PM CARES, Fund.

The Trustee is an independent institution established by the Government of India to provide long-term care for retired civil servants. The PM CARES Fund is managed by a Board of Trustees headed by the Prime Minister.

Regarding the PM CARES Fund: During the Covid-19 pandemic, the PM CARES Fund was established. The fund’s main goal is to respond to any emergency or distress scenario, such as the pandemic threat, and to help those impacted. The fund receives no budgetary support and is solely funded by voluntary contributions from individuals and organizations.
The PM CARES Fund aims to support and promote initiatives that improve the quality of life of the people of India. Mr. Tata will be the first non-government individual appointed as a Trustee in the Fund’s history.

Featured Image Credit: india.com

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