Govt to set up Special Purpose Vehicle soon for land monetisation

03 Feb 2022 CW Team

According to a survey, the government has planned to set up National Land Monetisation Corporation (NLMC), having an authorised share capital of Rs 5,000 crore and subscribed share capital of Rs 150 crore.

As per the survey, CPSEs have referred around 3,400 acres of land and other non-core assets to the Department of Investment and Public Asset Management (DIPAM) and the Ministry of Finance (MoF) for monetisation.

The monetisation of other non-core assets of different CPSEs like Mahanagar Telephone Nigam Limited (MTNL), Bharat Sanchar Nigam Limited (BSNL), B&R India, Bharat Petroleum Corporation Limited (BPCL), Bharat Earth Movers Limited (BEML),

Hindustan Machine Tools Limited (HMTL), Instrumentation Limited, etc, are under various stages of the transaction.

The monetisation of these non-core assets will help to unlock the values of these unutilised or underutilised assets and generate returns on equity that the government has invested in them. According to sources, NLMC might be set up with a chairman for the private sector and a CEO from the government body.

The SPV under the Department of Public Enterprise (DPE) will help in delinking the closure of a CPSE from the disposal of its immovable assets like free-hold land to avoid delay in the closure of the loss-making entity.

Last year in August, the centre unveiled a National Monetisation Pipeline (NMP) to generate upfront revenue of Rs 6 lakh crore in four years, starting from FY22, from operational infrastructure projects under several long-term leases plans consisting of minimal ceding of government’s ownership of the assets.

This initiative can revert to the path of fiscal consolidation without any lapse of time and create the financial heft to finance the Rs 111 lakh crore National Infrastructure Pipeline (NIP) for FY 21-25 and other capital-intensive ventures.

Image Source

Also read: Centre sets up National Land Monetisation Corporation

Minister of Finance (MoF), Nirmala Sitharaman, in her Budget Speech 2021-22, announced that a Special Purpose Vehicle (SPV) would be set up for land monetisation and other non-core assets of Central Public Sector Enterprises (CPSEs) or any departmental arms. According to a survey, the government has planned to set up National Land Monetisation Corporation (NLMC), having an authorised share capital of Rs 5,000 crore and subscribed share capital of Rs 150 crore. As per the survey, CPSEs have referred around 3,400 acres of land and other non-core assets to the Department of Investment and Public Asset Management (DIPAM) and the Ministry of Finance (MoF) for monetisation. The monetisation of other non-core assets of different CPSEs like Mahanagar Telephone Nigam Limited (MTNL), Bharat Sanchar Nigam Limited (BSNL), B&R India, Bharat Petroleum Corporation Limited (BPCL), Bharat Earth Movers Limited (BEML), Hindustan Machine Tools Limited (HMTL), Instrumentation Limited, etc, are under various stages of the transaction. The monetisation of these non-core assets will help to unlock the values of these unutilised or underutilised assets and generate returns on equity that the government has invested in them. According to sources, NLMC might be set up with a chairman for the private sector and a CEO from the government body. The SPV under the Department of Public Enterprise (DPE) will help in delinking the closure of a CPSE from the disposal of its immovable assets like free-hold land to avoid delay in the closure of the loss-making entity. Last year in August, the centre unveiled a National Monetisation Pipeline (NMP) to generate upfront revenue of Rs 6 lakh crore in four years, starting from FY22, from operational infrastructure projects under several long-term leases plans consisting of minimal ceding of government’s ownership of the assets. This initiative can revert to the path of fiscal consolidation without any lapse of time and create the financial heft to finance the Rs 111 lakh crore National Infrastructure Pipeline (NIP) for FY 21-25 and other capital-intensive ventures. Image Source Also read: Centre sets up National Land Monetisation Corporation

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