Compensatory Afforestation Fund Bill, 2015
Q. Which of the following is/are true regarding Compensatory Afforestation Fund Bill, 2015?
1) The legislation is to properly manage funds realized in lieu of forest land diverted for non-forest purpose.
2) These funds will result in creation of productive assets and generation of huge employment opportunities in rural areas.- Published on 05 Apr 16a. Only 1
b. Only 2
c. Both 1 and 2
d. Neither 1 nor 2
ANSWER: Only 2
- The proposed legislation seeks to provide an appropriate institutional mechanism, both at the Centre and in each State and Union Territory, to ensure expeditious utilization in efficient and transparent manner of amounts realized in lieu of forest land diverted for non-forest purpose. This would mitigate impact of diversion of such forest land.
- The proposed legislation also seeks to provide safety, security and, transparency in utilization of these amounts, which currently are being kept in Nationalised Banks and are being managed by an ad-hoc body. These amounts would be brought within broader focus of both Parliament and State Legislatures and in greater public view, by transferring them to non-lapsable interest bearing funds, to be created under public accounts of the Union of India and each State.
- The proposed legislation will also ensure expeditious utilization of accumulated unspent amounts available with the ad hoc Compensatory Afforestation Fund Management and Planning Authority (CAMPA).
- Utilization of these amounts will facilitate timely execution of appropriate measures to mitigate impact of diversion of forest land, for which these amounts have been realised. Apart from mitigating the impact of diversion of forest land, utilisation of these amounts will also result in creation of productive assets and generation of huge employment opportunities in rural areas, especially in backward tribal areas.
