Govt has asked NLMC to speed up process of Land Monetization of BSNL, MTNL and other PSUs
The government is moving forward with a plan to speed up the monetisation of land assets from various Central Public Sector Enterprises (CPSEs), according to sources.
The Ministry of Finance has devised a new strategy to accelerate the land asset monetisation process. As part of the plan, the government has instructed the National Land Asset Monetisation Corporation (NLMC) to expedite the procedure.
NLMC will serve as an advisory body, assisting other government entities and CPSEs in monetising their non-core assets effectively and professionally. The corporation has been tasked with completing the monetisation process within a specified timeline.
Sources revealed that the Department of Public Enterprises, under the Ministry of Finance, has already asked CPSEs to identify unused land assets. Many companies, including BSNL, MTNL, BEML Limited, and Hindustan Cables Limited, have already submitted their lists of available land for monetisation.
Among these assets, the land owned by BSNL and MTNL, valued at Rs 1000 crore, will be prioritised, sources added.
The Ministry of Finance has already given the necessary approval, and the entire monetisation process will now be fast-tracked.
In the Union Budget 2025-26, Finance Minister Nirmala Sitharaman announced the launch of the second asset monetisation plan for the period 2025-30. The plan aims to generate Rs 10 lakh crore by monetising government-owned assets and reinvesting the funds into new infrastructure projects.
This new plan builds upon the success of the first asset monetisation initiative launched in 2021, which identified Rs 6 lakh crore worth of assets for monetisation. The goal is to use the capital raised to fund vital infrastructure development across the country.
