Bridging the revenue shortfall

DoT'S proposal • Wants to sell 773 acres of land earlier owned by VSNL • Could raise Rs 6,000-10,000 crore • Will help the government raise resources for social welfare schemes

The government is desperately trying to bridge the revenue shortfall created by social sector schemes like the National Rural Employment Guarantee Scheme.

And it’s now coming up with novel ideas to raise resources. The Department of Telecom (DoT) is now exploring the possibility of selling 773 acres of land, earlier owned by Videsh Sanchar Nigam Limited (VSNL). The company was privatised in 2002 when the government sold it to Tata Sons. However, the surplus land was not part of the deal.

The government’s windfall from any land auction, which includes 200 acres in Delhi’s posh Greater Kailash area, could fetch Rs 6,000-10,000 crore.

—Kushan Mitra