CAF Rules will pave way for transfer of Rs 52, 000 Cr green fund to states: Environment Minister

By Accommodation Times Bureau

NEW DELHI

Underlining that the CAF Bill was earlier passed by Lok Sabha in the year 2008, but the same could not be passed in Rajya Sabha, Union Minister for Environment, Forest and Climate Change, Harsh Vardhan said,  CAF Act will come into force from September 30, 2018. He said the release of fund to States will boost the efforts of the Government towards restoration and enhancement of forest wealth, and it will help in creating the additional carbon sink to meet the nation’s Intended Nationally Determined Contribution (INDC) of  2.5 to 3 billion tonnes of carbon dioxide equivalent through additional forest and tree cover by the year 2030.

The Minister also pointed out that the CAF Rules were finally published on August 10, 2018, paving the way for a smooth transfer of funds worth about Rs. 52, 000 crore to the States.  He also said that the fund will be kept in the interest-bearing Public account of the Centre and States, will be safe and will be used only for compensatory afforestation, soil moisture conservation, wildlife management and catchment area treatment.  The Minister also said that these activities will be managed by a statutory body called National Authority and State Authority and has a strong monitoring mechanism.

Vardhan stated that the CAF Act has been enacted to manage the funds collected for compensatory afforestation and net present value of forest land diverted for non-forestry use under Forest Conservation Act 1980, which had till now been managed by ad-hoc Compensatory Afforestation Fund Management and Planning Authority (CAMPA).  “The release of the fund was restricted to only 10% of the principal amount from interest accrued over it.  Now, the Fund will be managed as per the CAF Act and Rules, unlocking the use of funds collected for the purpose of forest ecosystem restoration and water security”, Vardhan averred.





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