Finance Minister Nirmala Sitharaman today in her maiden Union Budget proposed an Electronic Fundraising Platform, a social stock exchange, to be set up to list social enterprises and voluntary organisations working for social welfare objectives.
Reacting to the Union Budget 2019-20, Sumanta Kar, Deputy National Director, Integrated Child Care, SOS Children’s Villages of India, said, “We as a voluntary organisation, working for the welfare of children, who are abandoned or receive inadequate parental care, appreciate the announcement of creating an Electronic Fundraising Platform.”
According to a 2015 report by UNICEF, there are over 8 million children worldwide living in institutional care. The idea behind institutional care is to provide basic necessities as well as love, respect and security to children without adequate parental care. There are a good number of institutions across the world that accomplishes this with a high standard of care.
However, the standards of institutional care vary widely. While there are some that are able to provide children with a nurturing and healthy environment, many are not equipped with adequate care facilities for children. Thus, monitoring and listing of such social enterprises and voluntary organisations becomes an important aspect for the welfare of children living under their respective homes.
“Inspection, monitoring and evaluation – are activities that enable improvement of services in a CCI. This is where electronic management of funds will help maintain transparency and ensure better utilisation of funds towards protecting the rights of children in need”, said Kar.
“Childcare organisations need government’s support towards creating a new India. The government grants to the organisation should be linked to the quality of care delivered by the organisation. Aftercare which still not received due attention should also receive due importance inorder to strengthen our youth coming out from CCIs Undoubtedly, the administration has continued its emphasis on social improvement of the nation while boosting it with monetary strengthening and development. India is a youthful country with children comprising of one third of the nation’s population – and considered a great national asset. What is accomplished for them today will decide the pace and character of the nation’s progress”, said Kar.