Now, afforestation gets separate dedicated fund

  • 05/12/2003

  • Business Line (New Delhi)

The Ministry of Environment and Forests has created a separate pool, called the Compensatory Afforestation Fund (CAF), to ensure that the funds received for afforestation are used for purposes intended. Henceforth, the funds collected under CAF will be invested in the Reserve Bank of India schemes, nationalised banks, post offices and other government securities. To manage the fund, the Ministry proposes to set up a separate body called the Compensatory Afforestation Fund Management and Planning Authority (CAMPA). The Ministry is also working out a framework for public-private partnership to attract additional investment for degraded forestlands. The Government needs to plant trees covering around five million hectares per annum to achieve the goal of 33 per cent of forest coverage by 2012.