Establishment of National Land Monetization Corporation (NLMC)
According to the recently presented Economic Survey, the Government of India is setting up a “National Land Monetization Corporation” (NLMC) to monetize land and other non-core assets.
Earlier, in the budget of 2021-22, it was announced to set up a Special Purpose Vehicle (SPV).
This SPV was established to monetize land and non-core assets in an efficient and prudent manner, as per international best practices.
So far, CPSEs have referred 3,400 acres of land and other non-core assets for monetization from CPSEs.
National Land Monetization Corporation (NLMC)
- It is being set up as a “100% entity owned by the Government of India”.
- The initial authorized share capital value would be Rs 5,000 crore, while the subscribed share capital would be Rs 150 crore.
- It is free to develop the property for commercial or residential purposes.
- It has the freedom to invest, lease or rent properties or monetize them based on suggestions.
Conduct of “Monetization”:
Monetization of core assets is handled by NITI Aayog, while monetization of non-core assets is handled by the Department of Investment and Public Asset Management (DIPAM).
Source – The Hindu
