National Culture Fund

National Culture Fund Latest News

Recently, the Hindustan Aeronautics Ltd (HAL), the National Culture Fund and the Archaeological Survey of India (ASI) have signed a Memorandum of Agreement (MoA) for conservation and development of heritage sites.

About National Culture Fund

• It was set up as a Trust on 28th November, 1996 under the Charitable Endowment Act, 1890.

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Objectives of National Culture Fund

• To administer and apply the Fund for conservation, maintenance, promotion, protection, preservation and up-gradation of monuments protected or otherwise;
• To impart training and facilitate development of a cadre of specialists and cultural administrators
• To facilitate in providing additional space in existing museums & construct new museums to accommodate or create new & special galleries.
• Documentation of cultural expressions and forms that have lost their relevance in contemporary scenarios and are either fading out or facing extinction.
• Governance of National Culture Fund
  • It is managed and administered through a Governing Council chaired by the Hon’ble Minister of Culture and has a maximum strength of 25 members to decide the policies.
  • An Executive Committee headed by Secretary (Culture) and has a maximum strength of 11 Members, to execute those policies.
• Benefits to donors: Donations to the National Culture Fund are eligible for 100% tax benefit under Section 80G (ii) of the Income Tax Act, 1961.
• NCF’s activities are covered under Schedule VII No. (v) of the Companies Act, 2013 as valid receptacle of Corporate Social Responsibility (CSR) contribution under:  
• Protection of national heritage, art and culture including restoration of buildings and sites of historical importance and works of art; setting up public libraries; promotion and development of traditional arts and handicrafts.”
• Contribution to NCF:  It can receive donations from Corporates, PSUs, Trusts and Individuals for maintenance and preservation of Centrally Protected monuments/ cultural projects through NCF.

Source: PIB