By A Staff Reporter Kathmandu, Sept. 11: The government has established ‘Indrajatra Festival Protection Fund’ worth Rs. 50 million for the operation and management of Indrajatra Festival. The meeting of the cabinet held on September 8 made the decision to establish the fund in participation of local bodies. According to the Ministry of Culture, Tourism and Civil Aviation (MoCTCA) the expenses required for the operation and management of Indrajatra Festival will be borne from the interest income received from the money of the fund deposited in the bank. In the fund the federal government will contribute Rs. 15 million, the state government of State No. 3, Kathmandu Metropolitan and Guthi Sansthan will added Rs. 10 million, Rs. 20 million and Rs. 5 million respectively, a press statement issued by the MoCTCA stated. The government has also decided to form a committee headed by mayor of Kathmandu Metropolitan City for the management of the fund. The committee would distribute the money for the management and operation of the festival every year. Lawmakers Rambir Manandhar, Jeebanram Shrestha and Krishna Gopal Shrestha have appreciated the decision of the government to establish the fund. They have expressed happiness over the decision of the government hand thanked the government for listening the demand of Newari community of Kathmandu.