Cabinet Approves formation of National Land Monetisation Corporation (NLMC)
Cabinet has approved National Land Monetisation Corporation (NLMC) formation.
Aim: to handle the sale of surplus land and buildings of the government, its agencies, and Central Public Sector Enterprises (CPSEs).
NLMC:
It will be a wholly-owned central government entity. Initial authorised share capital: Rs 5,000 crore.
Paid-up share capital: Rs 150 crore. It will be a lean organisation with minimal full-time staff, hired directly from the market on contract basis.
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