Government identifying PSUs with land bank but little business for selloff

The government is identifying public sector organisations with little to no business activities that are sitting on land banks to privatise or sell off

With an aim to collect surplus land, the government is identifying the Public Sector Undertakings (PSUs) that have land bank but little to no use as the business isn't productive anymore, The Times of India reported. For this, the government has established a special purpose vehicle (SPV) called the National Land Monetization Corporation (NLMC), a wholly-owned organisation.

Hemisphere Properties, the listed firm, for example, established to take over the land of the former VSNL (now Tata Communications), is one of the businesses that is thought to have a sizable land bank.

The PSU, which is administratively governed by the housing and