Cabinet nod to amend bill to speed up fund utilisation for afforestation
FirstpostThe amendments provide for use of monies realised from the user agencies in lieu for forest land diverted in protected areas for voluntary relocation from protected areas. New Delhi: The government on Wednesday gave its nod to move amendments to a bill which paves the way for expeditious utilisation in a transparent manner of over Rs 40,000 crore earmarked for forest land which is lying unspent. “The Union Cabinet chaired by the Prime Minister Narendra Modi today gave its approval to move official amendments in the Compensatory Afforestation Fund Bill, 2015,” an official statement said. The legislation will ensure expeditious utilization of accumulated unspent amounts available with the ad hoc Compensatory Afforestation Fund Management and Planning Authority which is presently around Rs 40,000 crore and… ….fresh accrual of compensatory levies and interest on accumulated unspent balance, which will be of the order of approximately Rs 6,000 crore per annum, in an efficient and transparent manner, the statement said.
History of this topic
Centre notifies draft rules for use of ₹50k crore afforestation funds
Hindustan Times
Compensatory Afforestation Fund Bill, 2016 Passed by Rajya Sabha
Live Law
Lok Sabha passes Compensatory Afforestation Fund Bill; paves way for special allocations
Firstpost
Amendments in the Compensatory Afforestation Fund Bill, 2015
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