<p>The government has set up a National Land Monetisation Corporation to fast track monetisation of land and non-core assets of public sector entities, the Economic Survey said on Monday.</p>.<p>So far, CPSEs have referred 3,400 acres of land and other non-core assets for monetisation from CPSEs including MTNL, BSNL, BPCL, B&R, BEML, HMT Ltd, Instrumentation Ltd.</p>.<p>Since, the desired skill set to take on the responsibility of management and monetisation of non-core assets in government is limited, Finance Minister Nirmala Sitharaman in 2021-22 Budget had announced setting up of a Special Purpose Vehicle (SPV), with capacity and expertise, to carry out the monetisation of the land and other non-core assets in an efficient and prudent manner, in line with international best practices.</p>.<p>"In pursuance of the Budget announcement, National Land Monetisation Corporation (NLMC) is being incorporated as a 100 per cent Government of India owned entity with an initial authorised share capital of Rs 5,000 crore and subscribed share capital of Rs 150 crore," it said.</p>.<p>With regard to government's asset monetisation drive, the Survey said there is an aggregate monetisation potential of Rs 6 lakh crore through core assets of the central government over a four-year period from 2021-22 to 2024-25.</p>.<p>Top five sectors including roads, railways, power, oil and gas pipelines and telecom account for around 83 per cent of the aggregate value.</p>.<p>So far, CPSEs have referred 3,400 acres of land and other non-core assets for monetisation, the Survey said.</p>.<p>"The New Public Sector Enterprise Policy and Asset Monetisation Strategy introduced by the government reaffirm its commitment towards privatisation and strategic disinvestment," it said.</p>.<p>While the monetisation of core assets is steered by NITI Aayog, the initiative for monetisation of non-core assets has been hitherto steered by the Department of Investment and Public Asset Management (DIPAM).</p>.<p>Monetisation of non-core assets envisages unlocking of value of these thus far unutilized or under-utilised assets and generate returns on the equity that the Government has invested in them.</p>.<p>"So far, CPSEs have referred 3,400 acres of land and other non-core assets to DIPAM/MoF for monetization. Monetisation of non-core assets of different CPSEs i.e., MTNL, BSNL, BPCL, B&R, BEML, HMT Ltd, Instrumentation Ltd etc. is at present under various stages of the transaction," the Survey said. </p>.<p><strong>Watch the latest DH Videos here:</strong></p>
<p>The government has set up a National Land Monetisation Corporation to fast track monetisation of land and non-core assets of public sector entities, the Economic Survey said on Monday.</p>.<p>So far, CPSEs have referred 3,400 acres of land and other non-core assets for monetisation from CPSEs including MTNL, BSNL, BPCL, B&R, BEML, HMT Ltd, Instrumentation Ltd.</p>.<p>Since, the desired skill set to take on the responsibility of management and monetisation of non-core assets in government is limited, Finance Minister Nirmala Sitharaman in 2021-22 Budget had announced setting up of a Special Purpose Vehicle (SPV), with capacity and expertise, to carry out the monetisation of the land and other non-core assets in an efficient and prudent manner, in line with international best practices.</p>.<p>"In pursuance of the Budget announcement, National Land Monetisation Corporation (NLMC) is being incorporated as a 100 per cent Government of India owned entity with an initial authorised share capital of Rs 5,000 crore and subscribed share capital of Rs 150 crore," it said.</p>.<p>With regard to government's asset monetisation drive, the Survey said there is an aggregate monetisation potential of Rs 6 lakh crore through core assets of the central government over a four-year period from 2021-22 to 2024-25.</p>.<p>Top five sectors including roads, railways, power, oil and gas pipelines and telecom account for around 83 per cent of the aggregate value.</p>.<p>So far, CPSEs have referred 3,400 acres of land and other non-core assets for monetisation, the Survey said.</p>.<p>"The New Public Sector Enterprise Policy and Asset Monetisation Strategy introduced by the government reaffirm its commitment towards privatisation and strategic disinvestment," it said.</p>.<p>While the monetisation of core assets is steered by NITI Aayog, the initiative for monetisation of non-core assets has been hitherto steered by the Department of Investment and Public Asset Management (DIPAM).</p>.<p>Monetisation of non-core assets envisages unlocking of value of these thus far unutilized or under-utilised assets and generate returns on the equity that the Government has invested in them.</p>.<p>"So far, CPSEs have referred 3,400 acres of land and other non-core assets to DIPAM/MoF for monetization. Monetisation of non-core assets of different CPSEs i.e., MTNL, BSNL, BPCL, B&R, BEML, HMT Ltd, Instrumentation Ltd etc. is at present under various stages of the transaction," the Survey said. </p>.<p><strong>Watch the latest DH Videos here:</strong></p>