Union Environment Minister Anil Dave on Saturday said the National Compensatory Afforestation Fund is having deposit of over Rs 40,000 crore since the past eight years.
"The Compensatory Afforestation Fund of more than Rs 40,000 crore was lying in banks since last eight years," the Union minister of state told reporters in Bhopal.
Dave said 90 per cent of the funds will be given to the states for afforestation in the area where deforestation has taken place for developmental activities.
Congratulating all the political parties, the minister said passing of Campa (the National Compensation Afforestation Fund Management Planning Authority Bill), goods and services tax (GST) and other Bills in Parliament's previous session show the deep-rooted democratic values in our country.
He said forests can become a major means of development and underlined the need of changing the forests rules and regulations made during the British rule.
To a query, Dave said funding of non-governmental organisations (NGOs) to disrupt developmental activities in India won't be allowed.
At the same time, he said industrialists would not be allowed to damage environment for furthering their business interest.
According to the minister, he will examine developmental projects under his department before clearing them.
Dave said he will go by the merits only.
