The government will sell land of a government company and institutions like BSNL, the new company will do this work

Posted on 9th Mar 2022 by rohit kumar

Be it Central Public Sector Enterprises (CPSEs) or government agencies, the government will raise money by selling their vacant land, buildings, or properties. The Central Government has also formed a company for this work. The name of this company is National Land Monetization Corporation (NLMC). This company will be fully owned by the government. Let us tell you that for the first time in the budget for the financial year 2021-22, the sale of properties in this way was proposed. In this episode, the government has now formed the company.

 

There was mention in the Economic Survey: The formation of the National Land Monetization Corporation (NLMC) was mentioned in the Economic Survey presented a day before the general budget this year. It was told in the survey that proposals for the sale of 3,400 acres of land and other assets of central PSUs have been sent to NLMC. Government companies such as MTNL, BSNL, BPCL, B&R, BEML, HMT Ltd, and Instrumentation Ltd have submitted details of their assets to the Land Monetization Corporation.

 

According to the report of the Economic Survey, during the years 2021-22 to 2024-25, Rs 6 lakh crore is likely to be raised from the sale of key assets of the central government. Of these, about 83 percent of the assets in the telecommunications sectors are in addition to roads, railways, electricity, oil, and gas pipelines.

 

Important for closed companies: Many government companies have had strategic disinvestment or have closed down. This step taken by the government is very important for such companies. The National Land Monetization Corporation (NLMC) will provide technical advice as well as help in taking forward the government's monetization program.

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