Private charity contributions rise in India
Although the human conditions in India remain difficult for many, the attitude towards giving has certainly started to change. In fact, as a percentage of GDP, private charitable giving in India has increased 50% since 2006. Today private giving totals 0.3-0.4% of GDP in India. However, the country still lags behind when compared with the developed world. For instance, private giving in US accounted for 2.2% of GDP in 2009.
But, it’s still below the global standard
A prime reason for the disparity is that individual donations in India still constitute only 26% of all private contributions, way below the global standards. While in US individual charitable donations total as much as 75% of all private giving, in UK, it’s 60%. Moreover, the wealthiest Indians are still donating much less than (1.5-3% of annual income) their US counterparts, who contribute about 9% of their annual incomes.
Although the human conditions in India remain difficult for many, the attitude towards giving has certainly started to change. In fact, as a percentage of GDP, private charitable giving in India has increased 50% since 2006. Today private giving totals 0.3-0.4% of GDP in India. However, the country still lags behind when compared with the developed world. For instance, private giving in US accounted for 2.2% of GDP in 2009.
But, it’s still below the global standard
A prime reason for the disparity is that individual donations in India still constitute only 26% of all private contributions, way below the global standards. While in US individual charitable donations total as much as 75% of all private giving, in UK, it’s 60%. Moreover, the wealthiest Indians are still donating much less than (1.5-3% of annual income) their US counterparts, who contribute about 9% of their annual incomes.
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