What is the National Land Monetization Act all about?
Answer
Answer
Union Cabinet in its latest meeting, chaired by Prime Minister Modi, approved the creation of National Land Monetization Corporation (NLMC). The idea is to hold and monetise surplus real estate assets of PSUs. This could refer to PSUs that are being privatised or shut down. NLMC will help the government earn substantial revenues. Even in the case of active PSUs, the NLMC will look to ring-fence and monetize non-core real estate.