India’s Top PSUs 2022

22 III. Approval for setting up of National LandMonetisation Corporation: In March 2022, the Cabinet approved setting up of National LandMonetisation Corporation (NLMC), a Special Purpose Vehicle (SPV) for undertaking surplus land monetization of CPSUs and other government agencies. This will enable productive utilisation of under-utilised assets of CPSUs as well as may accelerate the closure process of CPSUs and would also smoothen the strategic disinvestment process of CPSUs. IV. Empowering Board of Directors to recommend and undertake the process for disinvestment/ closure: The Cabinet empowered the Board of Directors of the Holding / Parent Public Sector Enterprises to recommend and undertake the process for disinvestment (both strategic disinvestment and minority stake sale) or closure of any of their subsidiaries / units / stake in JVs in May 2022. The proposal intends to reform the functioning of CPSUs, by allowing greater autonomy to the Board of Directors of the Holding CPSUs for taking decisions and recommend for timely exit from their investment in Subsidiaries / Units or JVs, which will enable them tomonetize their investment in such subsidiaries/units/JVs at an opportune time or close their loss-making and inefficient subsidiary/ unit/JV at right time. CPSUs’ at forefront for realizing mission of “AtmaNirbhar Bharat” The Government of India has envisagedAtmanirbhar Bharat (Self-Reliant India) in order to gradually move towards greater sustainability by building domestic capacity in operations while maintaining the efficiency, competitiveness and resilience. The CPSUs have taken several initiatives as part of AtmaNirbhar Bharat Abhiyan which include adopting policy reforms, strategic partnerships, administrative actions, operational realignment and capacity building. The initiatives taken by the CPSUs under five broad categories are elaborated below. Dun & Bradstreet