National Culture Fund (NCF) set up as a Trust under the Charitable Endowment Act, 1890 on 28thNovember, 1996 by the Government, with a view to mobilize 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 an 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.
(This is a reproduced press release from the government of India as it is. Devdiscourse bears no responsibility towards grammatical or factual errors that may have been presented in the report.)