Govt sells ‘enemy properties’

Govt sells ‘enemy properties’
02/05/2019 , by , in News/Views

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.

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