Government Closes Indian People's Natural Calamity Trust and Transfers its Corpus to PM Relief Fund
Capital Market Department of Agriculture, Cooperation and Farmers' Welfare has taken a decision to wind up the Indian People's Natural Calamity Trust (IPNCT) created by former Ruler of Jaipur in 1900, with an objective to provide relief to the Indian people during famine. The Trust is presently administered under the chairmanship of Agriculture Minister with 27 nominated members and two officers. With the passage of time, the Trust seems to have outlived its utility. Since its last meeting held in August 1995, the Trust has no significant activity except giving donations through PM Relief Fund in case of natural disasters. Now disaster management is being handled by National Disaster Management Authority in Ministry of Home Affairs which has sufficient budget and infrastructure. With the consent of the representative of the former Ruler of Jaipur and opinion of Ministry of Law & Justice, it has been decided to wind up the Trust and Union Agriculture and Farmers Welfare Minister, Shri Radha Mohan Singh decided to transfer the balance fund of nearly Rs.91 lakhs in its corpus to Prime Minister's Relief Fund for better utilization of the funds.
Powered by Capital Market - Live News