What is National Land Monetisation Corporation?

National Land Monetisation Corporation will be set up as a wholly-owned Indian Government company with an initial authorized share capital of Rs. 5,000 crores and paid-up shared capital of Rs. 150 crores. What is NLMC and what will be its objectives?

Created On: Mar 30, 2022 14:52 IST
National Land Monetisation Corporation
National Land Monetisation Corporation

National land Monetisation Corporation UPSC: The setting up of the National Land Monetisation Corporation (NLMC) was approved by the Union Cabinet on March 9, 2022. NLMC will be set up as a wholly-owned Indian Government company with an initial authorized share capital of Rs. 5,000 crores and paid-up shared capital of Rs. 150 crores. The news regarding National Land Monetisation Corporation was shared by the Union Minister of State for Finance Dr. Bhagwat Kisanrao Karad in a written reply to a question by Rajya Sabha.

Learn more about National Land Monetisation Corporation (NLMC), its features, and what are its objectives.

What is National Land Monetisation Corporation?

National Land Monetisation Corporation (NLMC) will undertake the monetization of surplus land and the building assets of Central Public Sector Enterprises as well as other government agencies. The proposal of NLMC is in pursuance of the Budget Announcement for 2021-22.

National Land Monetisation Corporation (NLMC): Objectives

1. NLMC will undertake the professional and orderly monetization of the land and other non-core assets referred to it.

2. It will own, manage, hold and monetize land and building assets of Central Public Sector Enterprises (CPSE) under the closure and surplus land and buildings of 100% government-owned CPSEs under the strategic disinvestment.

3. National Land Monetisation Corporation will advise and support the monetization of surplus land assets of demerged companies holding surplus land and other CPSEs.

4. The corporation will also advise and assist the government departments, autonomous bodies, statutory bodies/authorities, corporations, etc. on the monetization of surplus and underutilized non-core assets.

5. NLM will have to identify the surplus land and building assets to create an inventory for the monetization

6. NLMC responsibilities will also include building a capable organization with skill and competencies for enabling speedier and more efficient monetization

7. National Land Monetisation Corporation will also act as a repository of best practices in land monetization.

National Land Monetisation Corporation (NLMC): What will be the structure?

National Land Monetisation Corporation (NLMC) will be administered by a board of directors.

1. The proposed board structure envisages a mix of government officials and eminent professionals in the field of banking, real estate, construction, investment banking, legal and related fields.

2. The Board of NLMC is expected to have the necessary experience and the expertise to steer the functioning of the corporation in a professional manner.

3. An eminent professional will be appointed as the Chairman of the NLMC Board.

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