New Delhi: The Centre on Friday launched a web-based analytical tool to closely monitor the flow and utilisation of foreign contributions received by different organisations registered or permitted under the FCRA(Foreign Contribution regulation Act).
"The tool enables decision-makers in various government departments/Ministries to scrutinise the sources of foreign funds and their actual use in India. It gives them the capacity to take data-driven and evidence-based decisions regarding compliance with the Foreign Contribution Regulation Act, 2010," Union Home Minister Rajnath Singh said while launching the tool.
The tool conducts big data mining and data exploration, said a Home Ministry statement, adding that its dashboard 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.
Union Home Secretary Rajiv Gauba, Intelligence Bureau Director Rajiv Jain, National Information Centre Director General Neeta Verma and officials of the Ministry of Home Affairs were present on the occasion.
As per Home Ministry figures, approximately 25,000 active organisations are registered under the FCRA and these received foreign contributions totalling Rs 18,065 crore for social, cultural, economic, educational and religious activities during 2016-17.
Each FCRA-registered non-governmental organisation conducts multiple financial transactions in receiving and spending the foreign contributions.
Therefore, there are hundreds of thousands of such transactions annually which can be monitored effectively through the new tool. It will, therefore, help the stakeholders in government to better regulate acceptance and utilisation of foreign contributions, the Ministry added.
Image source: DNA