Monetisation Corporation set-up plan in the Infrastructure sector
Finance Minister announced a new update regarding inventing in the infrastructure field. The union government plans to set up National Land Monetisation Corporation in the coming days for land and non-core assets monetization. The main aim of this step remains to boost up infrastructure investment in the country. According to the source, the move benefits the monetization of state-owned leftover land assets in a systematic way.
According to the source, initially, the corporation will start with an authorized capital of Rs. 5,000 crores of which Rs. 150 crores capital set for a subscription.
On the other hand, the lands of the Union government and central sector enterprises do maintained by this upcoming entity. Owing to the new firm work as asset manager for those sectors.
” INFRASTRUCTURE SECTOR IS ALL ABOUT BILDING ASSETS FOR THE COUNTRY. IT IS PART OF NATION BUILDING.”
However, the new corporation will be a pure government-owned company. Moreover, it should run under the board members which include secretaries from the concerned ministries, representatives from the real-estate sector, investment bankers, and managed by a CEO. The role of the CEO will manage its daily operations.
As of the 2021-2022 budget speech by FM Nirmala Seetharaman, she had proposed a special purpose vehicle for this process.
As of now, CPSEs have put forward about 3,500 acres of land and other non-core assets for monetization. Such assets of CPSEs under closure will transfer to the corporation.