Government plans to sell surplus land to ease fiscal crunch

The Centre is ready with an ambitious plan to sell surplus government land to generate cash to ease financial pressures, as suggested by the Vijay Kelkar committee on fiscal consolidation. A Cabinet note prepared by the finance ministry within days of the Kelkar panel submitting its recommendations says that proceeds from the sale or lease of surplus land, seen as a non-performing asset, would be used only to repay loans or create capital assets that will generate recurring revenue.

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