<span style="color: #222222;">The Union Cabinet today approved the setting up of National Land Monetization Corporation (NLMC) for undertaking surplus land monetization. It will be a wholly-owned government company with an initial authorized share capital of five thousand crore rupees and paid-up share capital of  150 crore rupees. The  NLMC will undertake monetization of surplus land and building assets of Central Public Sector Enterprises (CPSEs) and other government agencies. With monetization of non-core assets, the government will be able to generate substantial revenues by monetizing unused and under-used assets.<br />''<br />''At present, CPSEs hold a considerable surplus, unused and under-used non-core assets in the nature of land and buildings. For CPSEs undergoing strategic disinvestment, monetization of these surplus land and non-core assets is important to unlock their value. This will also enable productive utilization of these under-utilized assets to trigger private sector investments, new economic activities, boost the local economy, and generate financial resources for economic and social infrastructure. The NLMC is also expected to own, hold, manage and monetize surplus land and building assets of CPSEs under closure and the surplus non-core land assets of government-owned CPSEs under strategic disinvestment. This will speed up the closure process of CPSEs and smoothen the strategic disinvestment process of  CPSEs. </span><br />