Author: Devi Yesodharan
Publication: The Economic Times
Date: September 4, 2003
URL: http://economictimes.indiatimes.com/cms.dll/articleshow?msid=164262
Charity is big business, from the
look of things. According to the latest figures from the ministry of home
affairs, voluntary organisations in India received Rs 4,535.2 crore by
way of contributions from abroad during '00-01, the latest time period
for which this data is available. This indicates a 15.6% increase from
'99-00, when NGOs received Rs 3924.6 crore by way of foreign contributions.
The top recipient of foreign funds
was the Andhra Pradesh-based Sri Sathya Sai Central Trust, which received
Rs 88.2 crore in '00- 01. In second place was the World Vision of India
of Tamil Nadu with Rs 85.4 crore, followed by the Watch Tower Bible and
Tract Society, based in Maharashtra, with close to Rs 75 crore. The donations
have grown by over 220% since 1991, when the total inflow stood at Rs 1,412
crore. Nearly 50 organisations receive over Rs 10 crore in foreign donations
every year, and over 600 organisations get yearly foreign donations of
over Rs 1 crore.
The largest chunk of the money received
was earmarked for rural development - Rs 537 crore in '01. Second was health
and family welfare, which received Rs 433 crore across organisations. Around
10% of the total inflow of foreign funds is used for religious activities
- primarily by Christian and Hindu organisations. Over the last decade,
the Maharishi Ved Vigyan Vishwa Vidya Peetham has received close to Rs
400 crore through donations till date, followed by World Vision India with
Rs 375 crore and Foster Parents Plan International with Rs 370 crore.
Where is all the money coming from?
The US heads the list of donor countries in '00-01, with Rs 1,492.6 crore,
followed by the UK and Germany contributing Rs 677.6 crore and Rs 655.4
crore, respectively.
The largest single donor agency,
World Vision International, also from the US, poured Rs 80.4 crore into
India-based NGOs in '00- 01. Foster Plan of USA was second with donations
of Rs 76.4 crore.
Donations from the US over the last
decade have been growing by an average of 23% annually, while contributions
from Germany have increased 6% yearly. Other key contributors are Italy
and the Netherlands. Italy donated close to Rs 300 crore in '00-01, while
the Netherlands contributed nearly Rs 250 crore. Funds from Spain have
been growing at a yearly rate of 35%.
Banks in India have been taking
this sector quite seriously, with key private banks tailoring their products
for NGO accounts. American Express and Standard Chartered Grindlays have
managers, who concentrate exclusively on developing NGO relationships,
and offer special rates on incoming foreign funds for welfare organisations.
Meanwhile, the spirit of giving seems alive and well, and these numbers
seem poised to go only one way, up.
