`Govt to sell surplus land to meet financial needs`
New Delhi: The government is planning to sell its surplus land to ease the financial crunch.
As per a report published by the Times of India, a cabinet note has already been prepared by the Finance Ministry soon after the submission of Vijay Kelkar committee report.
Kelkar Panel in its report on financial consolidation had suggested that huge portions of land are lying with the government units such as- ports, railways and PSUs which can be monitised to meet the government’s fiscal crisis.
As per the Kelkar Panel’s recommendation, 10,000 acres in urban centres can be monetised to generate about Rs 50,000 crore. Similarly, 50,000 acres could be put to commercial use of a total 258,000 acres of available land owned by port trusts.