Rs 40,000 crore fund soon for compensatory afforestation: Prakash Javadekar

NEW DELHI: A huge fund of Rs 40,000 crore will soon be available for compensatory afforestation all over the country.

Environment and Forest Minister Prakash Javadekar today said that government has planned to bring the Compensatory Afforestation Fund (CAF) Bill 2015 in the winter session of Parliament.

Talking to reporters, he said, he expects a smooth passage of the measure which will pave the way for expeditious utilisation of funds realised for forest land diverted to non-forest purposes in transparent manner.

The Bill will also ensure utilisation of accumulated unspent funds already available with Compensatory Afforestation Fund Management and Planning Authority ( CAMPA).

States will get Rs 40,000 crore from CAMPA after passage of the bill, he said, adding that these would be additional funds for them.

The bill also provides for establishment of the national CAF and the state CAF to credit amounts collected by state governments and union territory administrations to compensate loss of forest land diverted for non-forest purpose.

The proposed legislation will also ensure safety, security and transparency in utilisation of these amounts, which currently are being kept in nationalised banks and managed by an ad-hoc body.

The minister said this fund will help states in addressing issues related to more greening, wildlife management, quality of forest, degraded forest and others.