Mar 12, 2022
Today’s edition of Current Affairs Dialog Box will comprise National Land Monetization Corporation. We will have a look at its relevance from the UPSC CSE syllabus and essential information that should not be missed during the UPSC Preparation.
If you missed yesterday’s edition of the UPSC Current Affairs Dialog box, click here.
For Prelims: National Land Monetization Corporation, National Monetization Pipeline (NMP)
For Mains: Asset Monetization and Related Challenges, Rationale behind Asset Monetization Plan and Benefits
The Government of India has approved the setting up of the National Land Monetization Corporation (NLMC) to monetise surplus land and building assets of Central Public Sector Enterprises (CPSEs) and other agencies linked to the Government.
Discuss the role and function of National Land Monetization Corporation in monetizing the assets of Central Public Sector Enterprises (CPSEs).
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Among the key challenges that NLMC might face include:
Image Source: NITI Aayog
|About Asset Monetization|
Monetisation refers to the process of turning a non-revenue-generating item into cash.
In the context of monetisation of public assets, it means the process of creating new sources of revenue for the Government and its entities by unlocking the economic value of un-utilised or underutilised public assets.
Current status of Monetization in India:
NITI Aayog has identified two kinds of assets under the National Monetization Pipeline (NMP) - Core assets and Non-core assets.
Assets which are central to the business objectives of such entities and are used for delivering infrastructure services to the public/users are considered as Core Assets.
Example: roads, rail, ports, airports, power generation.
The other assets, which generally include land parcels and buildings, can be categorized as non-core assets.
At present, CPSEs hold considerable surplus, unused and underused non-core assets in the nature of land and buildings.
So far, CPSEs have referred 3,400 acres of land and other non-core assets for monetisation. This includes various CPSEs like MTNL, BSNL, BPCL, B&R, BEML, HMT Ltd, Instrumentation Ltd.
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