Atmanirbhar
Philanthropy Ecosystem
Prelims:
Government Policies and
Interventions
Mains:
GS Paper II-Government Policies and Interventions,
Current relevance:
India's growing domestic philanthropy and the evolving
debate around the Foreign Contribution (Regulation)
Act (FCRA) have renewed focus on building an Atmanirbhar (self-reliant) philanthropy ecosystem.
Highlights:
1.
An Atmanirbhar
philanthropy ecosystem refers to a development model in which India's
social sector is primarily financed, and supported
by domestic philanthropy, while foreign funding plays a complementary role.
2. Domestic private
philanthropy has grown rapidly and
now exceeds ₹1.18 lakh crore annually,
significantly surpassing foreign philanthropic inflows.
3. Family philanthropy, Corporate Social Responsibility (CSR), and individual donations
have emerged as the primary sources of funding for social development.
4. Strengthening
India's Domestic Philanthropy Ecosystem
i.
Encourage greater participation from high-net-worth individuals to unlock
larger pools of domestic philanthropic capital.
ii.
Promote long-term
domestic philanthropy by creating a supportive policy and institutional
environment.
iii.
Strengthen governance,
transparency, and accountability to enhance public trust in the social
sector.
iv.
Enhance tax
incentives under Section 80G by
increasing deduction benefits and expanding eligible limits to encourage
charitable giving.
v.
Develop a framework for donating appreciated listed shares to eligible charitable
organisations, enabling greater philanthropic contributions.
vi.
Broaden the donor
base by leveraging digital platforms such as UPI, SIPs, and demat accounts to facilitate small, recurring
donations.
vii.
Strengthen the Social
Stock Exchange to connect credible non-profit organisations with individual
donors through transparent disclosure and measurable social impact.
Source: THE HINDU - https://www.thehindu.com/opinion/lead/building-an-atmanirbhar-philanthropy-ecosystem/article71250572.ece