Compensatory Afforestation Fund law likely next House session: Piyush Goyal

If passed, Bill will help unlock nearly Rs 41,000 crore earmarked for forest land which is lying unspent for about four years

The proposed Compensatory Afforestation Fund (CAF) Bill to pave the way for speedy utilisation of funds realised for forest land diverted to non-forest purposes in a transparent manner would be passed in the forthcoming session of the parliament next month, Power Minister Piyush Goyal said on Friday.

"CAF Bill got passed in the Lok Sabha. We expect the Bill to be passed in the Rajya Sabha in the next session. In this session it could have been passed if there was some cooperation," Goyal said.

"Four months could have been saved. In four months, more tress could have been planted. But then it's ok, it's better to be late than never," the minister said here releasing an NTPC coffee table book on bio diversity.

If passed, the CAF Bill will also help unlock nearly Rs 41,000 crore earmarked for forest land which is lying unspent for about four years.

Underlining the need to restore the forest cover through tree plantation, Goyal also urged state-run generator NTPC to increase its tree plantation target and keep a proper record reflecting ownership of the activity.