Union Cabinet, led by Prime Minister Narendra Modi, approved the establishment of the National Land Monetization Corporation (NLMC) as a wholly-owned Government of India corporation with an initial authorised share capital of 5000 crores and a paid-up share capital of 150 crore. The National Land Management Corporation (NLMC) would monetize surplus land and building assets owned by Central Public Sector Enterprises (CPSEs) and other government organisations. The idea is in accordance with the 2021-22 Budget Announcement.
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