Home ministry launches an online tool to monitor foreign contributions
the dashboard of the tool will be integrated with the bank accounts of FCRA-registered entities through the Public Financial Management System for updation of transactional data on a real-time basis.india Updated: Jun 01, 2018 22:36 IST
Union home minister Rajnath Singh on Friday launched an ‘Online Analytical Tool’ to facilitate closer monitoring of the flow and utilisation of foreign contributions received by non-governmental organisations registered under the Foreign Contribution Regulation Act, 2010, also known as FCRA.
According to an official statement, the web-based tool enables “decision-makers in various departments of government to scrutinise source of foreign funds and their actual use in India”.
“The tool gives them capacity to take data-driven and evidence-based decisions regarding the compliance of the provisions of the FCRA, 2010. It has analytical features to conduct big data mining and data exploration,”an MHA official said.
According to the ministry , the dashboard of the tool will be integrated with the bank accounts of FCRA-registered entities through the Public Financial Management System for updation of transactional data on a real-time basis.
“There are approximately 25,000 active organisations registered under FCRA, 2010. Foreign contributions worth Rs 18,065 crore were received by such organisations from foreign donors for various social, cultural, economic, educational and religious activities during financial year 2016-17.”
“Each FCRA-NGO conducts multiple financial transactions in receiving and spending the foreign contribution. So, there are hundreds of thousands of such transactions annually, which can be monitored effectively through this. It will, therefore, help stakeholders in government to better regulate acceptance and utilisation of foreign contributions,” it said.
First Published: Jun 01, 2018 22:36 IST