NITI Aayog urges states to adopt KVIC's model for monetising land resources
New Delhi: The Khadi and Village Industries Commission (KVIC) on Sunday said government think-tank NITI Aayog has urged all states to begin plantation of sandalwood and bamboo on their forest and agricultural land on the Commission's model, while also encouraging farmers in the states to take up such plantation commercially.
"Plantation of sandalwood and bamboo trees — a first-of-its-kind initiative of KVIC for monetisation of assets and financial sustainability — is set to be replicated across the country," the KVIC stated.According to the Commission, NITI Aayog CEO Amitabh Kant in a letter to all chief secretaries on July 4 requested them to undertake sandalwood and bamboo plantation in their states saying that "the exercise undertaken by KVIC will serve dual purpose — monetisation of vast land resources and encouraging farmers to take up commercial plantation of sandalwood and bamboo for their financial susceptibility".
The development comes in the backdrop of the sandalwood and bamboo plantation started by KVIC from its Nashik training centre spread in 262 acres.
KVIC has planted 500 saplings each of sandalwood and bambusa tulda, a special variety of Bamboo that is a native of Assam and used for making Agarbatti sticks. While 500 sandalwood trees, on maturity in 10-15 years, is expected to fetch Rs 50 crore to KVIC, the bamboo plants after three years will also generate a recurring income of Rs 4 lakh to Rs 5 lakh per year besides supporting the local Agarbatti industry.