Govt sells 'enemy properties'
In a first, the government has sold 'enemy properties' worth ?1,874 crore in April, as it seeks to fast-track the sale process of such assets to meet the ?90,000-crore disinvestment target set for the current fiscal. The government has mopped up ?2,350 crore as the disinvestment proceeds in the first month of 2019-20, of which, ?476 crore was on account of IPO of Rail Vikas Nigam Ltd (RVNL) and ?1,874 crore from the sale of 'Enemy Property', according to data on the DIPAM website. The Cabinet in November 2018 had given its go-ahead to the Department of Investment and Public Asset Management (DIPAM) to sell 'enemy shares' and 'enemy properties' -- which refers to the assets left behind by people who migrated to Pakistan or China and are no longer citizens of India.
Tags : News/Views