Question : National Land Monetisation Corporation

(a) whether the Government proposes to establish the National Land Monetisation Corporation (NLMC) in the country, if so, the details and the current status thereof;

(b) whether NLMC has started the process of monetisation of surplus land and building assets that have been referred to it, if so, the details thereof and if not, the reasons therefor;

(c) whether the Government has given the targets to various Ministries for its assets monetisation;

(d) if so, the details thereof including the target achieved during the year 2021-22 along with the targets fixed therefor during the year 2022-23, sector-wise;

(e) the details of the total amount realised viz-a-vis target for the Ministries of Railways and Coal; and

(f) whether these assets will be with the Government or it will be sold to the private players and if so, the details thereof?

THE MINISTER OF STATE FOR FINANCE
(DR. BHAGWAT KISHANRAO KARAD)

(a) &(b): The Union Cabinet on 9th March 2022, approved setting up of National Land Monetization Corporation (NLMC) as a wholly owned Government of India company with an initial authorized share capital of Rs 5000 crore and paid-up share capital of Rs 150 crore to undertake monetization of surplus land and non-core assets of Central Public Sector Enterprises (CPSEs) and other Government agencies. Accordingly, NLMC has been incorporated by Department of Public Enterprises in June, 2022. No non-core assets have been monetized by NLMC as yet.

(c)& (d): No specific target for non-core asset monetisation has been given for the FY 2021-22 and 2022-23. For core assets, as per the information received from NITI Aayog, sectoral targets are mapped to various ministries including M/o Road Transport & Highways, M/o Railways, M/o Power, M/o Ports, Shipping & Waterways, M/o Civil Aviation and M/o Petroleum and Natural Gas under the National Monetisation Pipeline (NMP). As against the indicative monetisation value of assets of Rs. 88,190 crore envisaged to be monetized during FY2021-22, transactions with an aggregate monetisation value of about Rs. 97,000 crore in terms of accruals or private investments, were completed. Indicative value of assets envisaged to be monetized under NMP during FY2022-23 is Rs. 1,62,422 crore.

(e): Under the NMP, for FY2021-22, a target of Rs. 17,810 crore and Rs. 3,394 crore was envisaged for Ministry of Railways and Ministry of Coal respectively. Aggregate monetization value of transactions completed during the year FY2021-22 by Ministry of Railways and Ministry of Coal was Rs. 800 crore and Rs. 40,104 crore respectively.

(f): The NMP provides the guiding principles for undertaking monetization of infrastructure assets which does not envisage sale of assets. Operations and maintenance of underlying assets therein is governed by applicable laws as well as performance standards and other key performance indicators as per the underlying agreements between the public authority and the operator or the concessionaire, as the case may be.



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