Foreign Funds to Educational Institutions

By | December 1, 2015
As per press release by Ministry of Home Affairs of Govt of India on 01-December, 2015
Foreign Funds to Educational Institutions

As per Foreign Contribution (Regulation) Act, 2010, no person having a definite cultural, economic, educational, religious or social programme shall accept foreign contribution without obtaining certificate of registration or prior permission from the Central Government. However, As per Gazette Notification No. S.O. 1492(E) dated 01.07.2011, all statutory bodies, including educational institutions, constituted or established by or under a Central Act or a State Act requiring to have their accounts compulsorily audited by the Comptroller and Auditor General of India are exempted from the operation of all the provisions of the Foreign Contribution (Regulation) Act, 2010. The details regarding foreign contribution received by such statutory bodies is not maintained.

This was stated by Minister of State in the Ministry of Home Affairs Shri Kiren Rijiju in Lok Sabha today in a written reply to a question by Shri PR. Senthil Nathan.

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