(FREE) UPSC Current Affairs 2024 PDF

(THE GIST OF PIB) National Culture Fund

(DECEMBER-2023)

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.

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 distinct 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.
It aims to mobilise extra resources through Public-Private Partnership (PPP) towards promoting, protecting & preserving India’s Cultural Heritage (Tangible & Intangible).
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.
It has members representing the corporate and public sector, private foundations and non-profit organisations.
The purpose for this structure is to increase non-government representation in the decision-making process.
The Executive Committee is chaired by the Secretary, Ministry of Culture
The donations to the national Culture Fund will be eligible for tax benefit under the Income Tax Act.