+
Centre sets up National Land Monetisation Corporation
Real Estate

Centre sets up National Land Monetisation Corporation

As per the Economic survey, on Monday, the government has formed a National Land Monetisation Corporation (NLMC) to expedite the monetisation of land and non-core assets of public sector entities.

Yet, Central Public Sector Enterprises (CPSEs) have referred 3,400 acres of land and other non-core assets for monetisation from CPSEs comprising Bharat Sanchar Nigam Limited (BSNL), Mahanagar Telephone Nigam Limited (MTNL), B&R, Bharat Petroleum Corporation Limited (BPCL), BEML Limited, HMT Ltd, Instrumentation Ltd.

Since, the expected skill set to take on the responsibility of management and monetisation of non-core assets in government is limited, Finance Minister Nirmala Sitharaman in 2021-22 Budget had declared establishing a Special Purpose Vehicle (SPV), with capacity and expertise, to conduct the monetisation of the land and other non-core assets efficiently and prudently, in line with international best practices.

In pursuance of the Budget announcement, National Land Monetisation Corporation (NLMC) is being included as a 100% Government of India owned entity with an initial authorised share capital of Rs 5,000 crore and subscribed share capital of Rs 150 crore.

Concerning the government's asset monetisation drive, the Survey said there is an aggregate monetisation potential of Rs 6 lakh crore via core assets of the central government over four years from 2021-22 to 2024-25.The leading five sectors comprising railways, roads, power, oil and gas pipelines and telecom estimate for approximately 83% of the aggregate value.

CPSEs have referred 3,400 acres of land and other non-core assets for monetisation, as per the survey. The New Public Sector Enterprise Policy and Asset Monetisation Strategy presented by the government reaffirm its commitment towards privatisation and strategic disinvestment. While the monetisation of core assets is headed by NITI Aayog, the initiative for monetisation of non-core assets has been hitherto driven by the Department of Investment and Public Asset Management (DIPAM). The monetisation of non-core assets envisages unlocking the value of these thus far unused or under-utilised assets and producing returns on the equity that the Government has funded in them.

Image Source

Also read: Nirmala Sitharaman launches National Monetisation Pipeline

As per the Economic survey, on Monday, the government has formed a National Land Monetisation Corporation (NLMC) to expedite the monetisation of land and non-core assets of public sector entities. Yet, Central Public Sector Enterprises (CPSEs) have referred 3,400 acres of land and other non-core assets for monetisation from CPSEs comprising Bharat Sanchar Nigam Limited (BSNL), Mahanagar Telephone Nigam Limited (MTNL), B&R, Bharat Petroleum Corporation Limited (BPCL), BEML Limited, HMT Ltd, Instrumentation Ltd. Since, the expected skill set to take on the responsibility of management and monetisation of non-core assets in government is limited, Finance Minister Nirmala Sitharaman in 2021-22 Budget had declared establishing a Special Purpose Vehicle (SPV), with capacity and expertise, to conduct the monetisation of the land and other non-core assets efficiently and prudently, in line with international best practices. In pursuance of the Budget announcement, National Land Monetisation Corporation (NLMC) is being included as a 100% Government of India owned entity with an initial authorised share capital of Rs 5,000 crore and subscribed share capital of Rs 150 crore. Concerning the government's asset monetisation drive, the Survey said there is an aggregate monetisation potential of Rs 6 lakh crore via core assets of the central government over four years from 2021-22 to 2024-25.The leading five sectors comprising railways, roads, power, oil and gas pipelines and telecom estimate for approximately 83% of the aggregate value. CPSEs have referred 3,400 acres of land and other non-core assets for monetisation, as per the survey. The New Public Sector Enterprise Policy and Asset Monetisation Strategy presented by the government reaffirm its commitment towards privatisation and strategic disinvestment. While the monetisation of core assets is headed by NITI Aayog, the initiative for monetisation of non-core assets has been hitherto driven by the Department of Investment and Public Asset Management (DIPAM). The monetisation of non-core assets envisages unlocking the value of these thus far unused or under-utilised assets and producing returns on the equity that the Government has funded in them. Image Source Also read: Nirmala Sitharaman launches National Monetisation Pipeline

Related Stories

Gold Stories

Next Story
Building Material

Nuvoco Marks 10 Years, Targets 35 MMTPA Capacity by FY28

Nuvoco Vistas Corporation Limited is celebrating a decade of operations under the theme ‘Dus Saal Bemisaal’, highlighting its expansion in India's building materials sector. The company has grown from a single cement manufacturing facility into a diversified organisation operating across cement, ready-mix concrete (RMC) and modern building materials.The company's journey began in 2014 when its parent, Nirma Group, commissioned a 2 million metric tonnes per annum (MMTPA) greenfield cement plant at Nimbol, Rajasthan. A major milestone followed in October 2016 with the acquisition of Lafarge ..

Next Story
Infrastructure Urban

Vedanta’s Programmes Benefit Over 1 Mn Girls in FY26

Vedanta Group announced that its girl-focused programmes benefited over 1 million girls in FY26, spanning more than 13 Indian states and international operations in South Africa and Zambia. The announcement, made to mark International Day of the Girl Child, highlights the company's initiatives across education, healthcare, sports, skill development and livelihood opportunities.The programmes align with several United Nations Sustainable Development Goals, including Zero Hunger, Good Health and Well-being, Quality Education, Gender Equality and Decent Work and Economic Growth.Through its Nand G..

Next Story
Infrastructure Energy

KPIL announces new business wins worth Rs 22.25 bn

Kalpataru Projects International (KPIL) has secured new orders and a letter of comfort worth approximately Rs 20.31 billion in its power transmission and distribution (T&D) business across India and international markets. Additionally, its Swedish subsidiary, Linjemontage i Grästorp AB, has received an order worth approximately Rs 1.94 billion (SEK 200 million), taking the combined order value to Rs 22.25 billion.Commenting on the order wins, Manish Mohnot, Managing Director and CEO, KPIL, said the new orders reflect customer confidence in the company's execution capabilities and technical ex..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code