National Land Monetisation Corporation set up

The Union Government has stepped on the gas to dispose of the vacant land and other assets of the central public sector undertakings. Having disposed of the Air India to the Tatas, the Modi government decided to dispose of the land belonging to the MTNL, BSNL, BPCL and other assets.

For the purpose, it constituted the National Land Monetisation Corporation(NLMC). In all, 3400 acres, belonging to MTNL, BSNL, BPCL, B and R, BMEL, HMT Ltd, have been identified for the sale. The NLMC will take care of the sale of the land. The Centre in its budget declared that the NLMC is constituted as a purely central government organisation with an initial share capital of Rs 5000 crore and subscribed share capital of Rs 1.50 crore. By way of sale of the assets, the centre is likely to mop up Rs 6 lakh crore during 2021-22 and 2024-25.