Kathmandu, Sept. 12: The government has established ‘Indrajatra Festival Preservation Fund’ worth Rs. 50 million for the operation and management of the famous festival of Indrajatra. A meeting of the Cabinet held on September 8 took a decision to establish the fund in the participation of the local bodies. According to the Ministry of Culture, Tourism and Civil Aviation (MoCTCA), all the expenses required for operation and management of Indrajatra will be borne from the interest of the money of the fund deposited in the bank. The federal government will contribute Rs. 15 million in the fund while the State government of State No. 3 will contribute Rs 10 million, a press statement issued by the MoCTCA stated. Likewise, Kathmandu Metropolitan and Guthi Sansthan will add Rs. 20 million and Rs. 5 million respectively, 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 their happiness over the decision of the government and thanked the government for listening to the demand of the Newar community of Kathmandu. Indrajatra, the festival of the living Goddess, is a famous festival of the Kathmandu Valley.