Union Cabinet meeting: Approval for formation of NLMC for land monetization, Global Center for Traditional Medicine to be built in Jamnagar
Today i.e. on March 9, there will be a cabinet meeting under the chairmanship of Prime Minister Narendra Modi. The meeting approved the formation of National Land Monetization Corporation (NLMC) for monetization of public sector undertakings (PUS) buildings, lands and government agencies. NLMC will play an advisory role in land monetization of government companies. It will identify the land which is to be monetised. Its outline will also be decided.
The Union Cabinet on Wednesday approved setting up of an NLMC to monetize land and buildings owned by government agencies and public sector undertakings that are being sold or are on the verge of closure. NLMC will monetize surplus land and building assets of Central Public Sector Enterprises (CPSEs) and other government agencies.
Information of 3400 acres with the government
NLMC is being formed as per the budget announcement. Its initial authorized share capital will be Rs 5 thousand crore and subscribed share capital will be Rs 15 crore. On January 31, it was informed in the Economic Survey that the government is forming this corporation so that land and other non-core assets can be monetized. Central Public Sector Enterprises has given information of 3400 acres to the government for monetization.
Global Center for Traditional Medicine approved
World Health Organization i.e. WHO Global Center for Traditional Medicine (WHO GCTM) has been approved in Jamnagar, Gujarat. It is being prepared jointly by WHO and Government of India. This will help in establishing AYUSH systems across the world and will also give a boost to traditional medicine.
Important for closed companies There are also many government companies that have had strategic disinvestment or have closed down. This step taken by the government is very important for such companies. NLMC will also provide technical advice along with helping to take the government’s monetization program forward.
