The Economic Survey presented by Finance Minister Nirmala Sitharaman on January 31 said that the government has set up a National Land Monetisation Corporation (NLMC) to
fast-track monetisation of land and non-core assets of public sector entities.
"In pursuance of the Budget announcement, National Land Monetisation Corporation (NLMC) is being incorporated as a 100 per cent Government of India owned entity with an initial authorised share capital of Rs 5,000 crore and subscribed share capital of Rs 150 crore," the survey said.
So far, central public enterprises have referred 3,400 acres of land and other non-core assets for monetisation to NLMC, the survey said.
The monetisation of non-core assets envisages unlocking of value of these assets and generates returns on the equity that the Government has invested in them
"MTNL, BSNL, BPCL, B&R, BEML, HMT Ltd, Instrumentation Ltd etc. is at present under various stages of the transaction," the survey said.
Frequently Asked Questions
A vaccine works by mimicking a natural infection. A vaccine not only induces immune response to protect people from any future COVID-19 infection, but also helps quickly build herd immunity to put an end to the pandemic. Herd immunity occurs when a sufficient percentage of a population becomes immune to a disease, making the spread of disease from person to person unlikely. The good news is that SARS-CoV-2 virus has been fairly stable, which increases the viability of a vaccine.
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Vaccine development is a long, complex process. Unlike drugs that are given to people with a diseased, vaccines are given to healthy people and also vulnerable sections such as children, pregnant women and the elderly. So rigorous tests are compulsory. History says that the fastest time it took to develop a vaccine is five years, but it usually takes double or sometimes triple that time.
The creation of the NLMC is in line with FM Sitharaman's announcement in 2021-22 Budget for a Special Purpose Vehicle (SPV), with capacity and expertise, to carry out the monetisation of the land and other non-core assets in an efficient and prudent manner, in line with international best practices.