Business Daily from THE HINDU group of publications
Sunday, Mar 09, 2008
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Sunday, Mar 09, 2008 ePaper | Mobile/PDA Version |
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Industry & Economy
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Environment Government - Policy Cabinet nod to set up afforestation fund Our Bureau New Delhi, March 8 The Union Cabinet on Friday gave its approval for the establishment of Compensatory Afforestation Fund by the Ministry of Environment and Forest for massive afforestation programme by increasing the tree cover through “Green India” initiative. It also approved Central assistance funds for long-term reconstruction of damaged infrastructure affected by natural calamities during 2005 to Andhra Pradesh, Gujarat, Himachal Pradesh, Karnataka, Kerala, Madhya Pradesh, Maharashtra, Tamil Nadu and Uttar Pradesh. At a cost of more than Rs 5,368.37 crore, it would be implemented over a period of two years and release of additional Central assistance with a net grant of Rs 763.99 crore to the affected States would be provided as gross budgetary support. In another decision, the Union Cabinet approved the establishment of a SAARC Development Fund to which India would contribute $100 million. This would help social and economic infrastructure and promote regional co-operation. The merger of Central Indian Pharmacopoeia Laboratory (CIPL), Ghaziabad, with Indian Pharmacopoeia Commission was also approved by the Cabinet. More Stories on : Environment | Policy
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