The Union Minister of Home Affairs, Rajnath Singh on June 1, 2018 launched an Online Analytical Tool to facilitate closer monitoring of the flow and utilisation of foreign contributions received by various organisations registered or permitted under the Foreign Contribution (Regulation) Act, 2010.
The web-based tool will enable decision-makers in various government departments to scrutinise source of foreign funds and their actual use in India. It will also give them the capacity to take data-driven and evidence-based decisions regarding the compliance of the provisions of the FCRA, 2010. |
Key Highlights
• The tool comprises analytical features to conduct big data mining and data exploration.
• Its dashboard will be integrated with the bank accounts of the FCRA-registered entities through the Public Financial Management System for updation of transactional data on a real-time basis.
• Approximately, 25,000 active organisations are registered under the FCRA, 2010 and foreign contributions worth Rs 18065 crores were received by such organisations from foreign donors for various social, cultural, economic, educational and religious activities during the financial year 2016-17.
• Each FCRA-NGO conducts multiple financial transactions in receiving and spending the foreign contribution.
• The tool will effectively monitor thousands of such transactions annually thus, helping the stakeholders in the government to better regulate acceptance and utilisation of foreign contributions.
The Foreign Contribution (Regulation) Act, 2010 came into effect on May 1, 2011. It aims to consolidate the law to regulate the acceptance and utilisation of foreign contribution or foreign hospitality by certain individuals, associations or companies and to prohibit acceptance and utilisation of foreign contribution or foreign hospitality for any activities detrimental to the national interest.
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