News: Foreign Funds: Education NGOs top the list

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Foreign Funds: Education NGOs top the list

India has always been associated with imparting top class education to its student segment via its renowned institutions so it comes as no surprise that the top ten recipients of foreign funds in the country are all in the education sector. The United States leads the way by providing the maximum funds to Indian NGOs in the education sector followed by United Kingdom, Germany, Italy and Netherlands. According to market reports the US sent Rs 170 crore in 2005-06.The figure went up to Rs 494.58 crore in 2007-08.

India has always been associated with imparting top class education to its student segment via its renowned institutions so it comes as no surprise that the top ten recipients of foreign funds in the country are all in the education sector. The United States leads the way by providing the maximum funds to Indian NGOs in the education sector followed by United Kingdom, Germany, Italy and Netherlands. According to market reports the US sent Rs 170 crore in 2005-06.The figure went up to Rs 494.58 crore in 2007-08.

Among the NGOs, World Vision India, the India branch of the international Christian humanitarian organisation which supports sponsoring education for children, receives the highest funds. In 2007-08, its foreign funding added up to Rs 211 crore trailed by Andhra Pradesh’s Rural Development Trust which came second with Rs 124 crore. Kerala’s Believers Church, which runs a chain of educational institutes and is supported by the US’s Gospel for Asia, received Rs 101 crore in the same period, while Caritas India, a Delhi based NGO received Rs 89 crore.

Market sources also reveal that Delhi tops the list as collectively NGOs present in the state got a whopping Rs 1,716 crore in 2007-08 while Tamil Nadu is next with Rs 1,670 crore, others which follow are Andhra Pradesh and Karnataka.

PM’s Take: With additional funding on its way aiding the Indian education system, there will be no looking back, the country can expect a high literacy rate in the future which will help shape a better tomorrow!

 

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Topics: C-Suite, #Updates

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