Current AffairsIndia

Cabinet approves disinvestment of ITDC properties in J&K, Bihar

New Delhi, Sep 26 (UNI) In continuation of the disinvestment policy of the Modi Government, the Union Cabinet on Wednesday approved to further disinvestment of India Tourism Development Corporation Limited’s properties, or units or joint ventures by way of transfers of incomplete project of Hotel Gulmarg Ashok, Gulmarg to the State Government of Jammu and Kashmir and Patna’s Hotel Patliputra Ashok to the State Government of Bihar.

As per the disinvestment policy of the Government, it had been decided to lease or sub-lease the ITDC hotels, properties, units,JVs jointly with the State Governments and where State Governments were not agreeing to the proposal of leasing or sub-leasing, the properties may be returned back to the State Governments at its officially valued price, Union Minister Arun Jaitley said.

Under disinvestment policy, with the approval accorded by the Cabinet Committee on Economic Affairs (CCEA), the Inter Ministerial Group (IMG) and the Ministry of Tourism (MoT), the ITDC has to date transferred the properties or units or JVs of ITDC of Hotel Lake View Ashok, Bhopal, Hotel Brahmaputra Ashok, Guwahati, Hotel Bharatpur Ashok, Bharatpur, Hotel Janpath, New Delhi to Ministry of Housing and Urban Affairs, Hotel Lalitha Mahal Palace at Mysore, Hotel Donyi Polo Ashok at Itanagar and Hotel Jaipur Ashok at Jaipur have been transferred to the concerned State Governments.

The meeting of the Cabinet Committee on Economic Affairs was chaired by Prime Minister Narendra Modi.

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