National News -
Union Cabinet on Wednesday has approved the formation of National Land Monetisation Corporation (NLMC) as a wholly owned government of India company to fast track the monetisation of land and non-core assets of public sector entities. For setting up NLMC, the Centre allocated an initial authorised share capital of Rs 5,000 crore and paid-up share capital of Rs 150 crore.
National Land Monetisation Corporation will undertake monetisation of surplus land and building assets of Central Public Sector Enterprises (CPSEs) and other Government agencies. So far, the CPSEs have referred 3,400 acres of land and other non-core assets for monetisation from CPSE.
