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India Philanthropy Report, 2020
Why is it in the news?
- According to the India Philanthropy Report 2020, the domestic philanthropic funding had grown rapidly in the last decade.
- It grown from around Rs. 12,500 crore in 2010 to ₹55,000 crore in 2018.
- The share of individual contributions had increase from 26% to 60% in the same period.
- The report is co-created by Dasra foundation and Bain &Company, took a broad 10 year view of the Indian philanthropic landscape.
More in the news
- On Gender and Adolescent girls:
(1) The report states that despite the country ranking low in gender equality, less than 1% of philanthropic funding went towards addressing issues related to them.
(2) An investment of ₹11,000 crore every year in secondary education for adolescent girls has the potential to add Rs. 47,000 crore to the GDP per annum.
- Regional Disparity:
(1) The report cited the example of “mismatch” in receiving philanthropic funds between Jharkhand and Maharashtra to project the disparity.
(2) Maharashtra, India’s richest state, receives 34 percent of the country’s philanthropic and corporate social responsibility funds funds.
(3) Jharkhand- one of the poorest states, on the other hand receives less than 1 percent of the funding.
- Recommendation:
(1) Philanthropic funding in the next decade should focus on solutions to comprehensively address issues faced by vulnerable sections of society and bridge a mismatch of funding that occurs in different geographies and sectors.
(2) The report also highlighted the need to invest in adolescent girls as it noted that the country was faring particularly poorly on gender equality.
Source
The Hindu