India News | Foreign Funding Under Prior Permission Category Has to Be Spent Within 4 Years: Govt

New Delhi, Apr 7 (PTI) Anyone receiving foreign funding under prior permission category of the Foreign Contribution Regulation Act (FCRA) will have to spend it within four years, the Centre announced on Monday.

In a notification, the Ministry of Home Affairs said anyone registered under the FCRA can accept any foreign contribution only after obtaining the prior permission by making an application.

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Such prior permission will be valid for the specific activities or projects for which it is obtained and from the specific source, the notification said.

The Central government in exercise of powers conferred under Section 46 of the FCRA, directed that the validity period for receiving and utilising the foreign contribution would be three and four years respectively from the date of approval of the application for prior permission, it said.

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"The validity period for receiving foreign contribution shall be three years from the date of approval of the application for prior permission. The validity period for utilising the said foreign contribution shall be four years from the date of approval of the application for prior permission," the notification said.

Any receipt or utilisation of the foreign contribution beyond the above said time limits shall be a violation of FCRA, 2010, it said.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)