National Culture Fund (NCF) Received Rs. 3.70 Crore During Last Five Years
- Recently, the Union Minister for Culture, Tourism And Development informed in the Lok Sabha that the National Culture Fund (NCF) received Rs. 3.70 Crore From Non-Government Sources during the last five Years.
National Culture Fund
- It was set up by the Government of India as a Trust under the Charitable Endowment Act, 1890 through a Gazette Notification in 1996.
- It was established as a funding mechanism and it is different from the existing sources and patterns of funding for the arts and culture in India.
- It will enable institutions and individuals to support arts and culture directly as partners with its government.
Objective:
- It aims to mobilise extra resources through Public-Private Partnership (PPP) towards promoting, protecting & preserving India’s Cultural Heritage.
Composition:
- It is managed and administered by a Council and an Executive Committee to actualize those policies.
- The Council is chaired by the Union Minister of Culture and has a maximum strength of 24 including both the Chairman and Member Secretary.
- The purpose for this structure is to increase non-government representation in the decision-making process.
- The donations to the national Culture Fund will be eligible for tax benefit under the Income Tax Act.
Prelims Takeaway
- Charitable Endowment Act, 1890
- National Culture Fund