Macro Economy

Survey on to identify govt-owned under-utilised assets: NITI Aayog

Our Bureau Kolkata | Updated on July 09, 2019 Published on July 09, 2019

Rajiv Kumar, Vice-Chairman, NITI Aayog, speaking at the AGM of the Indian Chamber of Commerce in Kolkata on Tuesday   -  Debasish Bhaduri

The Central Government has begun a survey of government-owned properties to determine land availability, rationalise their use and find ways to monetise them. The survey will also include determination of assets like stadiums and golf courses among other things.

According to Rajiv Kumar, Vice-Chairman, NITI Aayog, monetisation could happen by way of long-term lease to private developers, unlocking land for building the affordable houses or even sale of unutilised land.

Giving an example, Kumar maintained that some Central public sector enterprises own golf courses or a stadium which are used exclusively for them. But, there could be an additional revenue generation opportunity with these assets being jointly maintained with private players.

In certain cases, public sector undertakings may have closed factories or units in cities which have outlived their purposes. For instance, a factory that was once set up on the outskirts of a city; but with the city expanding, it may not be possible to run the factory there anymore. Such a land can be identified and monetised too.

“A survey of government-owned properties for monetisation purpose is on. There are many under-utilised assets that can be looked into,” he told reporters on the sidelines of the 91st annual general meeting of the Indian Chamber of Commerce (ICC) here on Tuesday.

Kumar said a list of 50 PSUs has been suggested for disinvesment. At present, a list of 24 has been shortlisted by the Centre.

“The Centre is likely to exceed its disinvesment target,” he said. Finance Minister, Nirmala Sitharaman, in the Budget set a disinvestment target of ₹105,000 crore for FY20; a 16 per cent jump from the ₹90,000-crore target set in the interim Budget. The FY19 disinvestment target was ₹80,000 crore.

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Published on July 09, 2019
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