Policy

Nasscom seeks FCRA norms waiver to improve fund inflows for Covid19

Our Bureau Mumbai | Updated on May 13, 2021

The amended provisions of the FCRA Act 2020 are proving to be a deterrent during Covid times

IT industry body Nasscom has sought temporary relaxation in FCRA conditions to enable foreign funds to smoothly flow into the country to fight Covid19.

“Many countries and global companies are providing aid to India and are helping the healthcare infrastructure deal with the surge. However, the amended provisions of the FCRA Act 2020 are proving to be a deterrent,” Nasscom said.

“Given the humanitarian crisis, we would request the government to grant a temporary waiver to the FCRA Act and the 2020 amendments. This will enable NGOs to transfer funds between two FCRA approved NGOs and non-FCRA approved NGOs,"it added.

The IT industry body also said the availability of vaccines, particularly, for the private sector continues to be very challenging. “While we are attempting to source available vaccines in India, we request the government to provide emergency use authorization for all WHO-approved vaccines – Pfizer, Moderna, J & J, and others that have gone through stringent approval process globally, to ensure there is no vaccine divide in the country," it added.

Published on May 13, 2021

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