The National Land Monetisation Corporation
The Union Cabinet approved the creation of the National Land Monetisation Corporation (NLMC), the Special Purpose Vehicle (SPV) to carry out monetisation of government and surplus land holdings of public sector undertakings (PSU).
What is the NLMC and what will it do?
- Fully owned by the government-The National Land Monetisation Corporation will be a firm, fully owned by the government, to carry out the monetisation of government and public sector assets in the form of surplus, unused or underused land assets.
- Administrative jurisdiction-It will fall under the administrative jurisdiction of the Ministry of Finance and will be set up with an initial authorised share capital of ?5,000 crore and a paid-up capital of ?150 crore.
- Unutilised Assets-Apart from monetising underutilised or unused land parcels of Central Public Sector Enterprises (CPSEs), the Corporation will also facilitate the monetisation of assets belonging to PSUs that have ceased operations or are in line for a strategic disinvestment, with the aim of unlocking the value of these land holdings.