National Culture Fund (NCF) set up as a Trust under the Charitable Endowment Act, 1890 on 28th November 1996 by the Government, with a view to mobilizing extra resources through Public-Private Partnerships has successfully completed 34 projects since inception, thus, promoting, protecting and preserving India’s cultural heritage.
The National Culture Fund is managed and administered by a council headed by Hon’ble Culture Minister to decide the policies and an Executive Committee headed by Secretary, Culture to actualize those policies. The Fund aims at inviting the participation of the corporate sector, non-government organizations, private/public sector as well as individuals in the task of promoting, protecting and preserving India’s cultural heritage.
The Government has granted INR 19.50 crore as one-time corpus fund to National Culture Fund out of the planned budget. Apart from this, there is no fund allocated by the Government to National Culture Fund. Besides this, NCF receives contributions and voluntary donations as endowments from many other sources.
All the projects undertaken by the NCF are completed within a specified period, in accordance with a MoU signed by NCF with the concerned donor organization. Accordingly, any ongoing project is supposed to be completed in several stages for which adequate funding is made available by the donor at such different stages. Consequently, there is always some unspent balance lying with NCF in respect of such ongoing projects which are still awaiting completion. This reasons for the funds remaining unspent.
National Cultural Fund
National Culture Fund (NCF) was established in 1996 as a trust under Ministry of Culture. NCF’s primary mandate is to establish & nurture Public-Private Partnerships in the field of heritage and mobilize resources for the restoration, conservation, protection and development of India’s rich, natural, tangible and intangible heritage.
A large number of projects, both in the form of tangible projects like restoration, conservation of old ASI monuments , provision of Tourist Amenities at the historical sites; and intangible projects like capacity building of artisans, training programmes, books publications , cultural events , etc. have been undertaken through the National Culture Fund (NCF) of Ministry of Culture.
The contributions to NCF are made by the corporate houses to undertake the development of Tangible & Intangible heritage on a project mode basis.
NCF already has such partnerships with some Corporates like NTPC, ONGC, SAIL, HUDCO, REC, Apeejay Group etc. who have provided funds for such heritage projects.
The donations/contributions to NCF are eligible for 100% tax deduction under Section 80G(2)(iii hh) of the Income Tax Act, 1961 subject to the limits and conditions prescribed in the said Section and relevant Rules
Please follow and like us: