Which of the following statements about the amendments to the Environment Relief Fund (ERF) Scheme, 2024, is/are correct?
1. The Central Pollution Control Board (CPCB) has been designated as the fund manager for the ERF.
2. The ERF is utilized exclusively for the restoration of public property damaged by hazardous substances.
3. The ERF amount can only be invested in government bonds and cannot be placed in savings accounts.
Explanation:
Statement 1 is true; the CPCB has replaced United India Insurance Company Limited as the fund manager of the ERF.
Statement 2 is false; while the ERF does provide for restoration of environmental damage, it is not limited to public property.
Statement 3 is also false; the ERF amount can be invested in public financial institutions and savings accounts, allowing for flexibility in fund management.
Explanation:
Statement 1 is true; the CPCB has replaced United India Insurance Company Limited as the fund manager of the ERF.
Statement 2 is false; while the ERF does provide for restoration of environmental damage, it is not limited to public property.
Statement 3 is also false; the ERF amount can be invested in public financial institutions and savings accounts, allowing for flexibility in fund management.