Enemy Properties Current Affairs - 2019

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Guidelines for Monetisation of Non-Core Assets of CPSEs

The Department of Investment and Public Asset Management (DIPAM) has issued the guidelines for monetisation of non-core assets of Central Public Sector Enterprises (CPSEs) and immovable enemy properties.

Guidelines for Monetisation of Non-Core Assets

  • An inter-ministerial group chaired by the secretary of DIPAM will identify the non-core assets of the CPSEs on its own and also on the basis of recommendations of the Niti Aayog.
  • The final call will be taken by the Finance minister-headed panel.
  • Once the panel approves the assets for monetisation, it should be completed within 12 months from the date of approval, failing which the finance ministry may restrict budgetary allocations to the CPSEs.
  • CPSEs can also seek relaxation from the inter-ministerial group of the 12-month deadline for sale of non-core assets.
  • In case of immovable enemy properties, the guidelines said that the assets would be identified for disposal in consultation with the stakeholders including the respective state governments.

The amount raised through the sale of non-core assets would form part of the disinvestment proceeds. The government has set a target of Rs 90,000 crore to be raised through CPSE disinvestment in the current financial year.

Month: Categories: Business, Economy & BankingUPSC

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Centre allows State Governments to put Enemy Properties to Public Use

The central government has allowed the state governments to put enemy properties into public use. The central government has amended the guidelines for disposal of the Enemy Property Order, 2018,  to facilitate usages of enemy property by the state government exclusively for public use.

Enemy Properties

  • Enemy properties are the properties of the people who migrated to Pakistan during partition and also to China after the Sino-India war in 1962.
  • It is estimated that there are 9,280 such properties which were left behind by people who went to Pakistan and 126 such properties were left by the Chinese nationals.
  • Of the total properties left behind by those migrated to Pakistan, about 4,991 are located in Uttar Pradesh, the highest in the country and West Bengal has 2,735 such estates and Delhi 487.
  • Of the total properties left by those left to China about 57 properties are located in Meghalaya, highest in the country. West Bengal has 29 such properties and Assam seven.
  • The estimated value of all enemy properties is approximately Rs 1 lakh crore.

The government had enacted the Enemy Property Act in 1968. This act was further amended through the Enemy Property (Amendment and Validation) Act, 2017. As the Enemy Property (Amendment and Validation) Act, 2017 Successors of those who migrated to Pakistan and China during partition will have no claim over the properties left behind in India.

Month: Categories: Constitution & LawUPSC

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