VARANASI, May 6 -- The executive committee of the Varanasi Nagar Nigam has granted in-principle and conditional consent to allocate two acres of land at Samne Ghat to the Inland Waterways Authority of India (IWAI), for constructing a cruise terminal, said Varanasi Nagar Nigam public relations officer Sandeep Srivastava on Tuesday.

He added that under the condition, the IWAI must pay rent for the prime land in accordance with the prevailing district magistrate (DM) circle rate; otherwise, one full floor of the proposed terminal building will have to be allocated to the Varanasi Nagar Nigam (VNN). The move is expected to enhance the Corporation's revenue and support the effective monetisation of government assets.

Moreover, this decision ...