New Delhi (10.03.2022): The Union Cabinet has approved the setting up of a new PSU — National Land Monetisation Corporation (NLMC) as a wholly-owned Government of India company — with an initial authorised share capital of Rs 5,000 crore and paid-up share capital of Rs 150 crore. This has set the ball in rolling on the Central government’s plans of asset monetisation. NLMC will undertake monetisation of surplus land and building assets of Central Public Sector Enterprises (CPSEs) and other government agencies. The proposal is in line with the Budget announcement made in 2021-22 by Finance Minister Nirmala Sitharaman.
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Cabinet nod to a new PSU for asset monetisation
By IndianMandarins - 2022-03-10 12:00:00
New Delhi (10.03.2022): The Union Cabinet has approved the setting up of a new PSU — National Land Monetisation Corporation (NLMC) as a wholly-owned Government of India company — with an initial authorised share capital of Rs 5,000 crore and paid-up share capital of Rs 150 crore. This has set the ball in rolling on the Central government’s plans of asset monetisation. NLMC will undertake monetisation of surplus land and building assets of Central Public Sector Enterprises (CPSEs) and other government agencies. The proposal is in line with the Budget announcement made in 2021-22 by Finance Minister Nirmala Sitharaman.
