Cabinet approves transfer of hotel Jaipur Ashok to Raj govt, Lalitha Mahal Palace to K'taka

New Delhi, Sept 20: The Cabinet today gave its approval for transfer of Hotel Jaipur Ashok in Jaipur and Lalitha Mahal Palace Hotel in Mysore of the India Tourism Development Corporation Ltd (ITDC) to the Rajasthan and the Karnataka governments respectively. Addressing a press conference after the Cabinet meeting -- chaired by Prime Minister Narendra Modi, Finance Minister Arun Jaitley said the Cabinet also approved the disinvestment of ITDC's 51 per cent equity shares in M/s Donyi Polo Ashok Hotel Corporation Ltd, the joint venture company running Hotel Donyi Polo Ashok, Itanagar in favour of the Arunachal Pradesh government. He said this was as per disinvestment policy of the union government where in ITDC hotels and properties to be leased or sub leased jointly with the states and where states have agreed to the proposal of leasing the properties may be returned to the states at their official valued prices. The policy had been formulated keeping in view that running and managing hotels on professional lines is not the job of government or its entities, Mr Jaitley said. UNI