Transfer Rs 54,000 crore Campa funds to centre: Supreme Court Read
Transfer Rs 54,000 crore Campa funds to centre
Transfer Rs 54,000 crore Campa funds to centre: Supreme Court Read. The Supreme Court on Monday directed that all funds of about Rs 54,000 crore under the compensatory afforestation fund management and planning authority (CMBA) should be transferred to a new authority created by the central government, which is the center for the use of both the center Establishes. State Governments for its green initiative.
A two-member bench ordered the transfer of funds at the request of the central government which originally sought to issue these funds for use for these purposes.
Funds collected through the compensatory afforestation funds and NPV (net present value) by the apex court have been diverted for non-forest purposes such as industry or commercial purposes, so far an ad hoc CAMPA authority has had.
These are used to make forests which have been lost for industrialization and development.
A two-member bench of Justices Arun Mishra and Deepak Gupta ordered the transfer of funds at the request of the central government, which originally demanded release of these funds for use for these purposes. Although most of these funds were collected under the auspices of the apex court, but the central government would constantly tap on them.
The court initially was reluctant to release these funds without a mechanism, to ensure that they were used properly, but considering the concerns of the Central Government in 2016, after considering a law, its idea got changed.
The amount will now be transferred from the ad hoc campus created by the apex court on July 10, 2009, to National Compensatory Afforestation Fund Management and Planning Authority.