National Land Monetization Corporation

Approval for National Land Monetization Corporation (NLMC) The Union Cabinet has approved the formation of National Land Monetization Corporation (NLMC) as a Special Purpose Vehicle (SPV) for monetization of surplus land. The National Land Monetization Corporation (NLMC) will be set up as a wholly owned company of the Government of India. It will have an initial authorized share capital of Rs. 5,000 crore, and a paid-up share capital of Rs. 150 crore. Earlier it was proposed in the budget 2021-22. Land monetization is a part of asset monetization programme. Role of NLMC: To monetise surplus land and non-core assets of Central Public Sector Enterprises (CPSEs) undergoing strategic disinvestment or closure process and provide assistance in this regard. To advise and assist public sector enterprises in identifying their surplus non-core assets. Also, monetizing them in a professional and efficient manner. To act as a repository of best practices related to land monetization. Also, providing assistance and technical advice to the government in the implementation of the asset monetization programme. It will also provide necessary technical expertise for professional management and monetization of land assets. What is asset monetization? It means monetization of government assets. Under this, the government hands over unutilized or surplus government assets to the private sector for a specified period of time. In return, the private sector parties invest in those assets, make profits from them and give advance money or revenue rights to the government. Earlier, the government had launched a National Monetization Pipeline (NMP) for four years. This is likely to fetch around Rs 6 lakh crore. Source – The Hindu Download Our App MORE CURRENT AFFAIRS

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Approval for National Land Monetization Corporation (NLMC)

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