National Land Monetisation Corporation (NLMC):
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The Union Cabinet has approved the setting up of a new government-owned firm to be called the National Land Monetisation Corporation (NLMC).
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The NLMC will undertake monetisation of surplus land and building assets of central public sector enterprises (CPSEs) as well as government agencies. Apart from this, the NLMC will also advise other government entities to identify their non-core surplus assets and monetise them.
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The proposal is in pursuance of the 2021-22 Budget announcement for the National Monetisation Pipeline.
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The monetisation of unused and underused assets is expected to generate substantial revenues for the government.
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It will have an initial authorized share capital of Rs 5000 crore and paid-up share capital of Rs 150 crore.
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The new company, which will be set up under the administrative jurisdiction of the finance ministry.