NGO coffers swell with foreign funds

: "NGO coffers swell with foreign funds
Sreelatha Menon / New Delhi August 04, 2006
Non-governmental organisations (NGOs) received a mind-boggling Rs 6,200 crore of foreign funds in 2004-05, nearly 36 per cent of the FDI received by India that year.

Put it down to the tsunami or the Kashmir earthquake, 2004-05 saw the highest-ever inflow of foreign funding to this sector.

The steep jump comes after modest hikes in fund flow since 1999 (see box). Foreign funds of Rs 5,105 crore were received in the previous year, while the figure was slightly lower at Rs 5,046 crore in 2002-2003, according to the foreign contribution regulation division (FCRA) of the home ministry, which monitors all foreign aid."