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 various organisations registered or permitted under the Foreign Contribution (Regulation) Act, 2010. The web-based tool enables decision-makers in various government departments to scrutinise source of foreign funds and their actual use in India.
It gives them the 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. Its dashboard will be integrated with the bank accounts of the FCRA-registered entities through the Public Financial Management System for updation of transactional data on a real-time basis.
Rajnath Singh witnessed a presentation on various aspects of the Analytical Tool and appreciated the painstaking work done by all concerned officials. Home Secretary Rajiv Gauba, Director (IB) Rajiv Jain, DG (NIC) Neeta Verma and officials of Ministry of Home Affairs were present.
There are approximately 25,000 active organisations registered under The 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.
Therefore, there are hundreds of thousands of such transactions annually which can be monitored effectively through this tool. It will, therefore, help the stakeholders in the government to better regulate acceptance and utilisation of foreign contributions.